Quantbot Technologies LP Has $2.11 Million Position in Centene Corporation $CNC

Quantbot Technologies LP trimmed its position in Centene Corporation (NYSE:CNC) by 84.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,994 shares of the company’s stock after selling 310,832 shares during the quarter. Quantbot Technologies LP’s holdings in Centene were worth $2,105,000 at the end of the most recent reporting period.

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

Centene Trading Up 2.8%

NYSE CNC opened at $45.06 on Thursday. Centene Corporation has a one year low of $25.08 and a one year 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 business has a 50 day simple moving average of $43.11 and a 200 day simple moving average of $37.92. The stock has a market capitalization of $22.16 billion, a P/E ratio of -3.31, a P/E/G ratio of 0.97 and a beta of 0.48.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.03. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The business had revenue of $49.73 billion during the quarter, compared to analysts’ expectations of $48.41 billion. During the same period last year, the company posted $0.80 earnings per share. The business’s quarterly revenue was up 21.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Research analysts expect that Centene Corporation will post 6.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CNC shares. Morgan Stanley raised their price objective on Centene from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Centene from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. TD Cowen upped their price objective on Centene from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. Argus raised shares of Centene to a “hold” rating in a report on Monday, February 9th. Finally, Truist Financial raised their price target on shares of Centene from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Centene has a consensus rating of “Hold” and a consensus target price of $42.44.

About Centene

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.