Trexquant Investment 13F: Adds $52M to Centene (CNC) Stake

Trexquant Investment significantly increased its holdings in Centene Corporation (NYSE: CNC) during the first quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The quantitative investment firm, which relies on systematic models and data-driven strategies to trade, boosted its position in the health insurer by 119.47%. This trade is part of a broader series of portfolio adjustments by the fund, which also recently opened new stakes in Canadian National Railway and trimmed its position in AbbVie.

Trexquant Builds Up Its Position in Centene

During the quarter, Trexquant added 803,182 shares of Centene to its portfolio. That purchase brought its total position to 1,475,466 shares, up from the 672,284 shares it owned previously. The newly expanded stake is valued at approximately $94,680,651. Because 13F filings are backward-looking and reflect holdings as of March 31, 2026, this report shows where Trexquant stood at the end of the quarter and might not reflect its exact real-time holdings today.

Centene Stock Performance and Technical Levels

Shares of Centene closed at $64.17 on Saturday. The stock has experienced considerable movement over the past year, trading between a 52-week low of $31.63 and a 52-week high of $71.01. Investors watching the technical levels will note that the stock is currently trading above its 200-day moving average of $54.01, though it remains slightly below its 50-day moving average of $65.29. The company has a forward P/E ratio of 13.18, suggesting a relatively low valuation compared to forward earnings expectations.

Recent Earnings and Financial Metrics

Centene last reported quarterly financial results showing total revenue of $180.3 billion, which represents a revenue growth rate of 4.6%. However, the company faced profitability hurdles, posting a negative return on equity of 20.36% and a net margin of negative 2.83%. Its earnings per share stood at negative $10.69. Wall Street will be looking for signs of operational improvement when the company reports its next quarterly earnings on October 27, 2026.

Analysts Set New Price Targets

Several research firms have updated their outlooks on Centene recently. On August 11, Argus Research upgraded the stock to a Buy rating with an $80.00 price target. JP Morgan maintained a Neutral rating on August 4, though it raised its target from $60.00 to $67.00. Bernstein also lifted its price target to $79.00 with an Outperform rating on August 3. A few days earlier, on July 29, Barclays kept an Overweight rating and bumped its price target to $80.00. Overall, Centene has a consensus Buy rating from 18 analysts, with an average target price of $71.78, indicating potential upside from its current trading level.

About Centene Corporation

Centene is a major healthcare enterprise that provides managed care services to under-insured and uninsured families across the United States. The company specializes in government-sponsored programs, including Medicaid, Medicare, and individual health insurance marketplaces. With systematic investors like Trexquant expanding their stakes, the market is closely watching how Centene navigates shifting government healthcare policies and manages its commercial insurance business.

What's Ahead for Centene Corporation

Investors will want to keep a close eye on Centene's upcoming earnings report in October to see if the company can turn its margins positive and justify the optimism shown by major funds. While Trexquant's large purchase shows confidence from a quantitative standpoint, regulatory changes in government-sponsored health programs will continue to be the primary driver for the stock's long-term trajectory.