Centene Corporation $CNC Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in Centene Corporation (NYSE:CNC) by 13.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 129,081 shares of the company’s stock after acquiring an additional 14,815 shares during the period. ProShare Advisors LLC’s holdings in Centene were worth $4,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNC. UniSuper Management Pty Ltd grew its holdings in Centene by 66.0% in the third quarter. UniSuper Management Pty Ltd now owns 85,232 shares of the company’s stock valued at $3,041,000 after purchasing an additional 33,875 shares during the period. Packer & Co Ltd acquired a new position in shares of Centene in the 3rd quarter valued at $50,487,000. ARGA Investment Management LP acquired a new stake in shares of Centene during the 3rd quarter worth $21,485,000. First Citizens Bank & Trust Co. raised its position in shares of Centene by 122.5% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 223,157 shares of the company’s stock worth $7,962,000 after buying an additional 122,870 shares during the period. Finally, Amundi boosted its holdings in Centene by 6.2% in the second quarter. Amundi now owns 3,384,752 shares of the company’s stock valued at $183,724,000 after acquiring an additional 199,016 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CNC. Sanford C. Bernstein restated an “outperform” rating and issued a $59.00 price objective on shares of Centene in a report on Tuesday, January 6th. Zacks Research upgraded shares of Centene from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 29th. Wall Street Zen upgraded shares of Centene from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Jefferies Financial Group raised their target price on shares of Centene from $25.00 to $32.00 in a research note on Monday, November 3rd. Finally, Wells Fargo & Company set a $43.00 price target on shares of Centene and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.50.

Centene Stock Performance

Shares of CNC stock opened at $40.53 on Friday. 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 quick ratio of 1.08 and a current ratio of 1.10. The stock has a market capitalization of $19.92 billion, a price-to-earnings ratio of -2.98, a PEG ratio of 0.87 and a beta of 0.48. The company’s 50-day simple moving average is $42.13 and its 200-day simple moving average is $36.29.

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

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.