Citigroup Inc. Has $33.57 Million Stock Position in Centene Corporation $CNC

Citigroup Inc. raised its stake in Centene Corporation (NYSE:CNC) by 12.4% in the third quarter, Holdings Channel.com reports. The firm owned 940,961 shares of the company’s stock after acquiring an additional 104,112 shares during the period. Citigroup Inc.’s holdings in Centene were worth $33,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baird Financial Group Inc. bought a new position in Centene during the first quarter valued at about $236,000. Sivia Capital Partners LLC raised its stake in shares of Centene by 80.0% in the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after purchasing an additional 4,315 shares in the last quarter. Focus Partners Advisor Solutions LLC lifted its position in Centene by 2.1% in the second quarter. Focus Partners Advisor Solutions LLC now owns 23,067 shares of the company’s stock worth $1,252,000 after purchasing an additional 479 shares during the period. Brighton Jones LLC increased its holdings in Centene by 277.5% in the 2nd quarter. Brighton Jones LLC now owns 20,180 shares of the company’s stock valued at $1,095,000 after buying an additional 14,835 shares during the period. Finally, Wealthfront Advisers LLC raised its stake in shares of Centene by 187.9% in the 2nd quarter. Wealthfront Advisers LLC now owns 66,790 shares of the company’s stock valued at $3,625,000 after buying an additional 43,595 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Trading Down 2.3%

CNC opened at $42.35 on Wednesday. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.03. The stock has a market capitalization of $20.82 billion, a PE ratio of -3.11, a PEG ratio of 0.96 and a beta of 0.48. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average price of $42.57 and a two-hundred day moving average price of $37.27.

Centene (NYSE:CNC) last issued its quarterly earnings results on Friday, February 6th. The company reported ($1.19) earnings per share for the quarter, beating 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 analyst estimates of $48.41 billion. During the same quarter last year, the business posted $0.80 earnings per share. Centene’s revenue for the quarter was up 21.9% compared to the same quarter last year. 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.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Centene from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Robert W. Baird raised their target price on Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Wall Street Zen lowered Centene from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Truist Financial lifted their price objective on Centene from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, January 5th. Finally, Argus raised shares of Centene to a “hold” rating in a report on Monday, February 9th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.88.

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.