Legal & General Group Plc Acquires 323,473 Shares of Centene Corporation $CNC

Legal & General Group Plc raised its holdings in Centene Corporation (NYSE:CNC) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,447,224 shares of the company’s stock after purchasing an additional 323,473 shares during the period. Legal & General Group Plc owned 0.90% of Centene worth $158,677,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Addison Advisors LLC boosted its holdings in Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after buying an additional 606 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Centene during the 3rd quarter valued at $27,000. WPG Advisers LLC lifted its position in shares of Centene by 44.5% during the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after acquiring an additional 282 shares in the last quarter. Bogart Wealth LLC boosted its holdings in shares of Centene by 11,011.1% in the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after acquiring an additional 991 shares during the period. Finally, Ameriflex Group Inc. grew its position in shares of Centene by 152.5% in the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $36,000 after purchasing an additional 610 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Performance

NYSE:CNC opened at $34.46 on Friday. The stock has a market cap of $16.95 billion, a P/E ratio of -2.53, a PEG ratio of 0.79 and a beta of 0.48. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. The business’s 50-day moving average price is $42.96 and its two-hundred day moving average price is $38.29. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.03.

Centene (NYSE:CNC) last issued its quarterly earnings data on Friday, February 6th. The company reported ($1.19) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.03. The company had revenue of $49.73 billion during 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%.Centene’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. As a group, equities analysts predict that Centene Corporation will post 6.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CNC. Robert W. Baird increased their price objective on Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Centene from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Tuesday, February 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Centene in a research note on Tuesday, January 6th. Finally, Wall Street Zen lowered shares of Centene from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.06.

Centene 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.