AlphaQuest LLC Has $1.39 Million Holdings in Centene Corporation $CNC

AlphaQuest LLC lifted its stake in shares of Centene Corporation (NYSE:CNC) by 42.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,928 shares of the company’s stock after purchasing an additional 6,786 shares during the quarter. AlphaQuest LLC’s holdings in Centene were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. bought a new position in Centene during the 4th quarter worth $25,000. Ameriflex Group Inc. bought a new position in shares of Centene in the fourth quarter valued at $26,000. Studio Investment Management LLC bought a new position in shares of Centene during the fourth quarter valued at about $32,000. Golden State Wealth Management LLC increased its holdings in Centene by 203.1% during the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock worth $35,000 after buying an additional 388 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its holdings in Centene by 273.8% during the first quarter. Bruce G. Allen Investments LLC now owns 927 shares of the company’s stock valued at $56,000 after purchasing an additional 679 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Centene Trading Up 1.8%

CNC opened at $29.3270 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $14.40 billion, a P/E ratio of 7.26, a PEG ratio of 1.17 and a beta of 0.40. The stock’s fifty day moving average is $34.85 and its two-hundred day moving average is $50.81. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $80.59.

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

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CNC shares. Oppenheimer dropped their target price on shares of Centene from $51.00 to $43.00 and set an “outperform” rating for the company in a research report on Monday, July 28th. UBS Group lowered their target price on Centene from $45.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Guggenheim reissued a “neutral” rating on shares of Centene in a research report on Tuesday, April 29th. Barclays cut their target price on Centene from $65.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 2nd. Finally, TD Cowen reissued 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. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Centene has an average rating of “Hold” and an average target price 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.