Shell Asset Management Co. Purchases 17,229 Shares of Centene Corporation $CNC

Shell Asset Management Co. grew its position in shares of Centene Corporation (NYSE:CNC) by 35.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,411 shares of the company’s stock after buying an additional 17,229 shares during the quarter. Shell Asset Management Co.’s holdings in Centene were worth $3,551,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Centene during the first quarter worth about $26,000. Golden State Wealth Management LLC grew its stake in shares of Centene by 203.1% during the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock valued at $35,000 after purchasing an additional 388 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Centene during the first quarter valued at approximately $73,000. Geneos Wealth Management Inc. grew its stake in shares of Centene by 78.1% during the first quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock valued at $89,000 after purchasing an additional 641 shares during the last quarter. Finally, Reyes Financial Architecture Inc. bought a new stake in shares of Centene during the second quarter valued at approximately $106,000. 93.63% of the stock is owned by institutional investors.

Insider Buying and Selling at Centene

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

Centene Price Performance

Shares of CNC stock opened at $38.44 on Wednesday. The firm’s 50 day moving average price is $30.45 and its two-hundred day moving average price is $44.96. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $18.88 billion, a PE ratio of 9.51, a PEG ratio of 1.53 and a beta of 0.48. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $73.50.

Centene (NYSE:CNC) last posted its earnings results on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.39). The firm had revenue of $48.74 billion during 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 company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $2.42 earnings per share. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. As a group, analysts forecast that Centene Corporation will post 6.86 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on CNC shares. Mizuho decreased their price target on shares of Centene from $71.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, July 11th. Sanford C. Bernstein decreased their price target on shares of Centene from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, September 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $38.00 price target on shares of Centene in a research note on Tuesday, August 26th. Oppenheimer decreased their price target on shares of Centene from $51.00 to $43.00 and set an “outperform” rating on the stock in a research note on Monday, July 28th. Finally, Bank of America cut shares of Centene from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $52.00 to $30.00 in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $39.07.

Centene Company 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.