Glenmede Trust Co. NA Sells 146,613 Shares of Centene Corporation $CNC

Glenmede Trust Co. NA cut its stake in Centene Corporation (NYSE:CNC) by 90.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,246 shares of the company’s stock after selling 146,613 shares during the quarter. Glenmede Trust Co. NA’s holdings in Centene were worth $499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC lifted its position in Centene by 117.0% during the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock worth $1,308,518,000 after acquiring an additional 17,143,904 shares during the last quarter. Norges Bank acquired a new position in shares of Centene in the fourth quarter valued at approximately $332,044,000. Deerfield Management Company L.P. increased its stake in shares of Centene by 184.0% during the third quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock worth $322,761,000 after purchasing an additional 5,860,630 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Centene by 52.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,171,568 shares of the company’s stock worth $295,111,000 after purchasing an additional 2,472,341 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Centene by 535.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,750,326 shares of the company’s stock valued at $113,176,000 after purchasing an additional 2,317,618 shares during the period. Institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald lifted their target price on Centene from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Mizuho set a $63.00 price target on shares of Centene and gave the stock a “neutral” rating in a research report on Monday, June 8th. UBS Group reissued a “neutral” rating and issued a $61.00 price objective (up from $55.00) on shares of Centene in a report on Friday, May 22nd. Wells Fargo & Company set a $69.00 target price on shares of Centene and gave the stock an “equal weight” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Centene from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.58.

Centene Trading Up 2.3%

Shares of CNC stock opened at $65.69 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15. Centene Corporation has a fifty-two week low of $25.18 and a fifty-two week high of $69.36. The company has a market cap of $32.45 billion, a PE ratio of -6.29, a P/E/G ratio of 0.35 and a beta of 1.08. The stock’s fifty day moving average price is $64.48 and its two-hundred day moving average price is $50.92.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $1.09 by $1.42. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.The business had revenue of $53.58 billion during the quarter, compared to the consensus estimate of $47.64 billion. During the same period in the prior year, the company earned ($0.16) EPS. Centene’s revenue for the quarter was up 9.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 4.800- EPS. Equities analysts predict that Centene Corporation will post 4.89 EPS for the current fiscal year.

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.