33,735 Shares in Centene Corporation $CNC Purchased by Trexquant Investment LP

Key Points

• Trexquant Investment LP has invested approximately $2.05 million in Centene Corporation, acquiring 33,735 shares during the first quarter.
• Centene's stock has seen a decrease of 4.8%, with the current market capitalization sitting at $14.06 billion and a price-to-earnings ratio of 7.08.
• CEO Sarah London and Director Theodore R. Samuels II both made significant stock purchases recently, indicating confidence in the company's prospects.

Trexquant Investment LP bought a new position in Centene Corporation (NYSE:CNC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 33,735 shares of the company's stock, valued at approximately $2,048,000.

Other institutional investors and hedge funds have also modified their holdings of the company. OMERS ADMINISTRATION Corp raised its position in Centene by 110.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 47,485 shares of the company's stock worth $2,883,000 after purchasing an additional 24,966 shares during the last quarter. Ieq Capital LLC raised its position in Centene by 49.9% in the 1st quarter. Ieq Capital LLC now owns 411,850 shares of the company's stock worth $25,003,000 after purchasing an additional 137,155 shares during the last quarter. Quadcap Wealth Management LLC raised its position in Centene by 3.2% in the 1st quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company's stock worth $341,000 after purchasing an additional 172 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Centene in the 1st quarter worth approximately $243,000. Finally, Gabelli Funds LLC bought a new position in Centene in the 1st quarter worth approximately $304,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Centene

In other Centene news, CEO Sarah London acquired 19,230 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $25.50 per share, with a total value of $490,365.00. Following the purchase, the chief executive officer owned 845,275 shares of the company's stock, valued at $21,554,512.50. This represents a 2.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Theodore R. Samuels II bought 9,000 shares of the stock in a transaction on Monday, July 28th. The shares were purchased at an average price of $27.62 per share, with a total value of $248,580.00. Following the acquisition, the director owned 32,000 shares in the company, valued at approximately $883,840. This represents a 39.13% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company's stock.

Centene Trading Up 0.7%

Centene stock traded up $0.23 during mid-day trading on Wednesday, hitting $31.29. 14,253,113 shares of the company's stock were exchanged, compared to its average volume of 12,875,977. The firm has a market capitalization of $15.37 billion, a P/E ratio of 7.74, a PEG ratio of 1.26 and a beta of 0.44. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $77.29. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The company's 50 day simple moving average is $28.73 and its 200-day simple moving average is $48.26.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.39). The business had revenue of $48.74 billion for the quarter, compared to analyst estimates of $44.71 billion. Centene had a return on equity of 9.57% and a net margin of 1.15%.The business's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.42 EPS. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. On average, equities analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on CNC. Cantor Fitzgerald restated a "neutral" rating and issued a $38.00 price objective on shares of Centene in a research report on Tuesday, August 26th. Truist Financial dropped their target price on shares of Centene from $42.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, July 28th. Barclays set a $33.00 price target on Centene and gave the company an "equal weight" rating in a research note on Thursday, September 4th. Morgan Stanley cut their price target on Centene from $33.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. cut their price target on Centene from $48.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $37.93.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.