Centene Corporation $CNC Shares Sold by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC lessened its stake in Centene Corporation (NYSE:CNC) by 35.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,338 shares of the company’s stock after selling 28,772 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Centene were worth $1,903,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Centene during the second quarter valued at about $1,435,997,000. Packer & Co Ltd acquired a new position in shares of Centene in the 3rd quarter valued at about $50,487,000. Worldquant Millennium Advisors LLC purchased a new stake in shares of Centene during the 2nd quarter worth about $65,105,000. Vanguard Group Inc. increased its position in Centene by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 58,396,605 shares of the company’s stock worth $3,169,768,000 after purchasing an additional 869,706 shares in the last quarter. Finally, Cambiar Investors LLC raised its holdings in Centene by 102.5% in the third quarter. Cambiar Investors LLC now owns 1,471,994 shares of the company’s stock valued at $52,521,000 after buying an additional 744,926 shares during the period. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Down 0.7%

Shares of NYSE CNC opened at $44.56 on Tuesday. The firm has a market cap of $21.91 billion, a price-to-earnings ratio of -3.27, a PEG ratio of 1.00 and a beta of 0.48. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s 50-day simple moving average is $42.93 and its 200-day simple moving average is $37.76.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Argus upgraded shares of Centene to a “hold” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. upped their price target on shares of Centene from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, January 22nd. Jefferies Financial Group cut their price objective on Centene from $43.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, February 13th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Centene in a research report on Tuesday, January 6th. Finally, Mizuho set a $47.00 target price on Centene in a report on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $42.00.

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.