State of Alaska Department of Revenue Sells 49,206 Shares of Centene Corporation $CNC

Key Points

• State of Alaska Department of Revenue cut its Centene stake by 44.6%, selling 49,206 shares and now holds 61,180 shares worth about $2.52 million.
• Institutional ownership is very high (93.63%) and several large funds materially increased positions—AQR (+76.6% to 14.65M shares) and Deerfield (+184% to 9.046M shares)—indicating strong institutional interest.
• Analysts' consensus is a "Hold" with an average price target of $41.88; Centene recently beat revenue estimates ($49.73B vs. $48.41B) but reported a negative EPS of ($1.19) for the quarter.

State of Alaska Department of Revenue lessened its stake in shares of Centene Corporation (NYSE:CNC - Free Report) by 44.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,180 shares of the company's stock after selling 49,206 shares during the period. State of Alaska Department of Revenue's holdings in Centene were worth $2,517,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in Centene by 76.6% in the 3rd quarter. AQR Capital Management LLC now owns 14,654,834 shares of the company's stock worth $522,885,000 after acquiring an additional 6,356,152 shares during the period. Deerfield Management Company L.P. lifted its position in shares of Centene by 184.0% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company's stock worth $322,761,000 after purchasing an additional 5,860,630 shares during the last quarter. 8 Knots Management LLC bought a new stake in Centene during the 3rd quarter valued at approximately $186,662,000. Arrowstreet Capital Limited Partnership grew its holdings in Centene by 32.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,716,056 shares of the company's stock valued at $310,989,000 after buying an additional 2,111,674 shares during the last quarter. Finally, Long Focus Capital Management LLC increased its position in Centene by 705.4% in the 3rd quarter. Long Focus Capital Management LLC now owns 2,299,000 shares of the company's stock worth $82,028,000 after buying an additional 2,013,560 shares during the period. 93.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CNC shares. Robert W. Baird upped their price target on Centene from $36.00 to $37.00 and gave the stock a "neutral" rating in a report on Wednesday. Wall Street Zen lowered shares of Centene from a "buy" rating to a "hold" rating in a research report on Sunday, February 15th. TD Cowen upped their target price on shares of Centene from $34.00 to $38.00 and gave the company a "hold" rating in a research note on Wednesday, February 11th. Cantor Fitzgerald restated a "neutral" rating and issued a $41.00 price target on shares of Centene in a research report on Monday, February 9th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Centene in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Centene has a consensus rating of "Hold" and an average price target of $41.88.

Centene Price Performance

Shares of NYSE:CNC opened at $38.11 on Friday. The firm has a market capitalization of $18.74 billion, a PE ratio of -2.80, a PEG ratio of 0.86 and a beta of 0.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.87. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $64.15. The business's 50 day moving average is $38.23 and its 200-day moving average is $39.00.

Centene (NYSE:CNC - Get Free Report) last issued its earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, beating analysts' consensus estimates of ($1.22) by $0.03. Centene had a positive return on equity of 4.25% and a negative net margin of 3.43%.The business had revenue of $49.73 billion during the quarter, compared to analyst estimates of $48.41 billion. During the same period in the prior year, the company posted $0.80 earnings per share. Centene's revenue was up 21.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Sell-side analysts predict that Centene Corporation will post 6.86 earnings per share for the current year.

About Centene

Centene Corporation NYSE: CNC is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children's Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene's offerings extend beyond traditional insurance to include a range of specialty and support services.

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