Victory Capital Management Inc. Sells 1,494,409 Shares of Centene Corporation $CNC

Key Points

• Victory Capital Management cut its stake in Centene by 78.7%, selling 1,494,409 shares in Q3 and left with 405,287 shares (about 0.08%) valued at $14.46 million.
• Centene faces major enrollment risk after the CEO warned ACA membership could fall from 5.5M to ~3.5M, sparking double‑digit share declines, analyst downgrades/price‑target cuts and a surge in put buying.

Victory Capital Management Inc. decreased its holdings in shares of Centene Corporation (NYSE:CNC - Free Report) by 78.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 405,287 shares of the company's stock after selling 1,494,409 shares during the period. Victory Capital Management Inc. owned about 0.08% of Centene worth $14,461,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Addison Advisors LLC boosted its stake in Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company's stock valued at $26,000 after buying an additional 606 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Centene during the third quarter valued at $27,000. WPG Advisers LLC grew its holdings in shares of Centene by 44.5% in the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company's stock worth $33,000 after purchasing an additional 282 shares during the last quarter. Bogart Wealth LLC grew its holdings in shares of Centene by 11,011.1% in the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the company's stock worth $36,000 after purchasing an additional 991 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its holdings in Centene by 54.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company's stock valued at $39,000 after purchasing an additional 390 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Key Centene News

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Centene’s Texas plan, Superior HealthPlan, designated a new Foster Care Center of Excellence (helps community reputation and local engagement). Superior HealthPlan Names Cute Pediatrics as First Rio Grande Valley Provider to Earn Foster Care Distinction
• Positive Sentiment: Company reaffirmed its 2026 outlook and redeemed certain debt notes — a signal of financial housekeeping that can reassure bondholders/credit investors. Centene Reaffirms 2026 Outlook and Redeems Debt Notes
• Neutral Sentiment: Centene presented at the Barclays Global Healthcare Conference; investor takeaways depend on management commentary (transcript available). Centene Corporation (CNC) Presents at Barclays 28th Annual Global Healthcare Conference Transcript
• Neutral Sentiment: Some outlets note Centene is a top-ranked momentum stock by certain screens — a recognition that may attract quantitatively oriented buyers but doesn’t offset near-term enrollment concerns. Centene (CNC) is a Top-Ranked Momentum Stock: Should You Buy?
• Negative Sentiment: CEO warned ACA enrollment could fall to ~3.5M from 5.5M — a sharp membership hit that directly pressures revenue and margins and was the primary trigger for today’s selloff and analyst downgrades. Centene (CNC) Stock Plunges 14% as CEO Warns of Massive ACA Enrollment Decline
• Negative Sentiment: Reuters and other outlets reported Centene sees a steeper drop in Obamacare memberships, which led to intraday share declines of double digits. Centene shares fall as health insurer sees steeper drop in Obamacare memberships
• Negative Sentiment: Mizuho cut its price target to $41 amid enrollment concerns; analyst downgrades/target cuts amplify selling pressure. Centene (CNC) Stock Plunges 14% as CEO Warns of Massive ACA Enrollment Decline
• Negative Sentiment: Industry-wide drop in ACA enrollment and rising costs are reported to be pressuring multiple insurers, putting sector sentiment against Centene. Obamacare enrollment is plunging as costs soar, pushing down stocks like Centene
• Negative Sentiment: Unusual options activity: a large increase in put buying (22,328 puts) suggests traders were positioning for further downside. Centene tumbles on ACA warnings but leads managed care with top Buy Quant rating

Centene Stock Performance

CNC stock opened at $36.35 on Wednesday. The company has a 50 day moving average price of $43.20 and a 200 day moving average price of $38.33. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $17.88 billion, a PE ratio of -2.67, a price-to-earnings-growth ratio of 0.96 and a beta of 0.48.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNC. Wells Fargo & Company set a $44.00 price objective on shares of Centene and gave the stock an "equal weight" rating in a research note on Wednesday, February 18th. Robert W. Baird increased their price target on Centene from $28.00 to $36.00 and gave the stock a "neutral" rating in a research report on Thursday, December 11th. TD Cowen lifted their price objective on Centene from $34.00 to $38.00 and gave the company a "hold" rating in a research report on Wednesday, February 11th. Sanford C. Bernstein reissued an "outperform" rating and issued a $59.00 price objective on shares of Centene in a research note on Tuesday, January 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $41.00 target price on shares of Centene in a research note on Monday, February 9th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $42.06.

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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