US Bancorp DE Sells 94,775 Shares of Centene Corporation $CNC

Key Points

• US Bancorp DE sold 94,775 shares of Centene, trimming its stake by 30.9% to 212,419 shares worth about $8.74 million as of the latest SEC filing.
• Centene beat Q1 expectations with EPS $3.37 vs. $2.23 and revenue $49.94 billion (up 7.1%), prompting some broker upgrades, but the analyst consensus remains a "Hold" with an average price target of $52.12.
• Institutional ownership is 93.63%, and several large funds (AQR, Deerfield, Arrowstreet, Long Focus and new stakes like 8 Knots) materially increased their Centene positions in recent quarters.

US Bancorp DE lowered its stake in Centene Corporation (NYSE:CNC - Free Report) by 30.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 212,419 shares of the company's stock after selling 94,775 shares during the quarter. US Bancorp DE's holdings in Centene were worth $8,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in Centene by 76.6% during the 3rd quarter. AQR Capital Management LLC now owns 14,654,834 shares of the company's stock valued at $522,885,000 after purchasing an additional 6,356,152 shares during the period. Deerfield Management Company L.P. raised its stake in Centene by 184.0% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company's stock valued at $322,761,000 after purchasing an additional 5,860,630 shares during the period. 8 Knots Management LLC bought a new stake in Centene during the 3rd quarter valued at approximately $186,662,000. Arrowstreet Capital Limited Partnership raised its stake in Centene by 32.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,716,056 shares of the company's stock valued at $310,989,000 after purchasing an additional 2,111,674 shares during the period. Finally, Long Focus Capital Management LLC raised its stake in Centene by 705.4% during the 3rd quarter. Long Focus Capital Management LLC now owns 2,299,000 shares of the company's stock valued at $82,028,000 after purchasing an additional 2,013,560 shares during the period. Institutional investors own 93.63% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CNC. The Goldman Sachs Group reissued a "sell" rating and set a $40.00 target price on shares of Centene in a research note on Wednesday. Argus raised Centene to a "hold" rating in a research note on Monday, February 9th. Truist Financial lifted their target price on Centene from $49.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their target price on Centene from $44.00 to $56.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price target on Centene from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday, March 19th. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $52.12.

Centene Stock Performance

NYSE CNC opened at $53.37 on Monday. The stock has a market capitalization of $26.36 billion, a PE ratio of -4.06, a P/E/G ratio of 1.03 and a beta of 1.06. The business has a 50 day simple moving average of $38.91 and a two-hundred day simple moving average of $39.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $64.15.

Centene (NYSE:CNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.23 by $1.14. The business had revenue of $49.94 billion during the quarter, compared to analysts' expectations of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.90 EPS. On average, research analysts predict that Centene Corporation will post 3.46 EPS for the current fiscal year.

Trending Headlines about Centene

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Q1 results beat expectations: Centene reported stronger-than-expected EPS and raised its outlook, which supports margin improvement narratives that helped multiple brokers upgrade or re-assess the name. Read More.
• Positive Sentiment: Wall Street bullish notes: Truist reiterated a Buy rating and Cantor Fitzgerald upgraded the stock, signaling investor confidence from some major brokers. Read More. Read More.
• Positive Sentiment: Longer-term recovery thesis boosted: A Seeking Alpha piece highlights promising 2027 turnaround prospects and potential momentum reversal—supportive for investors focused on multi‑year recovery. Read More.
• Positive Sentiment: Wells Fargo raised its price target to $56 while keeping an Equal Weight view, indicating some upside in the broker community even as conviction is measured. Read More.
• Neutral Sentiment: Broker PTs raised but ratings cautious: Deutsche Bank, Mizuho and Morgan Stanley all lifted targets (to $53, $50 and $50 respectively) but maintained Hold/Neutral/Equal Weight stances — a modest vote of confidence that stops short of strong endorsement. Read More. Read More. Read More.
• Neutral Sentiment: Analysts’ opinions remain mixed overall — coverage notes a blend of upgrades and cautious takes, keeping sentiment balanced rather than uniformly positive. Read More.
• Negative Sentiment: Lower consensus price target: A brokerage consensus report shows a $42 average target — well below current levels — which could cap upside if that view gains traction. Read More.
• Negative Sentiment: Execution concerns flagged: A Seeking Alpha commentary warns that further upside will require better operational execution, a caution investors may lean on after recent volatility. Read More.

Centene Company Profile

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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