Hsbc Holdings PLC Sells 76,045 Shares of Centene Corporation $CNC

Hsbc Holdings PLC lessened its position in shares of Centene Corporation (NYSE:CNC) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,406,595 shares of the company’s stock after selling 76,045 shares during the period. Hsbc Holdings PLC’s holdings in Centene were worth $85,197,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CNC. Nuveen LLC bought a new position in shares of Centene during the first quarter worth about $146,557,000. Boston Partners boosted its position in Centene by 155.3% during the 1st quarter. Boston Partners now owns 3,901,603 shares of the company’s stock worth $236,802,000 after acquiring an additional 2,373,280 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Centene by 42.8% during the 4th quarter. AQR Capital Management LLC now owns 7,742,698 shares of the company’s stock worth $469,053,000 after acquiring an additional 2,319,952 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Centene by 1,788.1% in the fourth quarter. Two Sigma Investments LP now owns 2,245,511 shares of the company’s stock valued at $136,033,000 after purchasing an additional 2,126,582 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Centene by 111.5% in the first quarter. Assenagon Asset Management S.A. now owns 3,608,213 shares of the company’s stock worth $219,055,000 after purchasing an additional 1,902,277 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Centene news, CEO Sarah London purchased 19,230 shares of the business’s stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $25.50 per share, with a total value of $490,365.00. Following the acquisition, the chief executive officer directly owned 845,275 shares of the company’s stock, valued at $21,554,512.50. This trade represents a 2.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Theodore R. Samuels II acquired 9,000 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was bought at an average cost of $27.62 per share, for a total transaction of $248,580.00. Following the completion of the transaction, the director directly owned 32,000 shares of the company’s stock, valued at approximately $883,840. This trade represents a 39.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.

Centene Stock Up 0.1%

Shares of CNC stock opened at $29.3560 on Thursday. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $80.59. The stock has a market cap of $14.42 billion, a price-to-earnings ratio of 7.27, a PEG ratio of 1.19 and a beta of 0.40. The firm’s 50-day moving average is $35.90 and its 200-day moving average is $51.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10.

Centene (NYSE:CNC) last announced its quarterly earnings results on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.39). The business had revenue of $48.74 billion for the quarter, compared to analyst estimates of $44.71 billion. Centene had a return on equity of 9.57% and a net margin of 1.15%.Centene’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the firm earned $2.42 EPS. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. Sell-side analysts predict that Centene Corporation will post 6.86 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on CNC. Guggenheim reaffirmed a “neutral” rating on shares of Centene in a research report on Tuesday, April 29th. TD Cowen restated a “hold” rating and issued a $33.00 price objective (down previously from $73.00) on shares of Centene in a report on Monday, July 21st. Barclays lowered their target price on Centene from $65.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 2nd. Wall Street Zen cut Centene from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, UBS Group decreased their price target on Centene from $45.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Centene presently has an average rating of “Hold” and a consensus price target of $42.20.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.