Shell Asset Management Co. Reduces Position in Centene Corporation $CNC

Shell Asset Management Co. decreased its holdings in Centene Corporation (NYSE:CNC) by 69.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,064 shares of the company’s stock after selling 45,347 shares during the quarter. Shell Asset Management Co.’s holdings in Centene were worth $716,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Mowery & Schoenfeld Wealth Management LLC bought a new position in Centene during the third quarter valued at approximately $27,000. WPG Advisers LLC boosted its stake in shares of Centene by 44.5% in the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after buying an additional 282 shares during the last quarter. Bogart Wealth LLC grew its holdings in shares of Centene by 11,011.1% in the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after acquiring an additional 991 shares during the period. Financial Network Wealth Advisors LLC increased its position in Centene by 54.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock valued at $39,000 after acquiring an additional 390 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Centene by 248.2% in the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after acquiring an additional 824 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Centene Trading Up 3.4%

Shares of Centene stock opened at $40.53 on Tuesday. 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 company has a fifty day moving average of $42.18 and a 200 day moving average of $36.55. The company has a market capitalization of $19.92 billion, a P/E ratio of -2.98, a P/E/G ratio of 0.90 and a beta of 0.48. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.03.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen lowered shares of Centene from a “buy” rating to a “hold” rating in a research report on Sunday. 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. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a research report on Wednesday, January 21st. Zacks Research raised Centene from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Centene from $32.00 to $39.00 and gave the company a “hold” rating in a report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.81.

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.