BlackRock Amends Centene Stake to 8.8% as of Dec 31, 2023
Ticker: CNC · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 1071739
| Field | Detail |
|---|---|
| Company | Centene Corp (CNC) |
| Form Type | SC 13G/A |
| Filed Date | Jan 26, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, healthcare, large-cap
TL;DR
**BlackRock still a major player in Centene, holding 8.8% of shares as of year-end!**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 26, 2024, disclosing its ownership in Centene Corp. As of December 31, 2023, BlackRock holds 49,909,006 shares of Centene's Common Stock, representing 8.8% of the company. This is an amendment (No. 14), indicating a change in their previous holdings. This matters to investors because BlackRock is a major institutional investor, and changes in their stake can signal their confidence (or lack thereof) in Centene's future performance, potentially influencing other investors.
Why It Matters
BlackRock's significant 8.8% ownership in Centene means they are a major shareholder, and their investment decisions can impact the stock's perception and stability.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a level of confidence.
Analyst Insight
An investor should note BlackRock's continued significant stake in Centene, but also recognize that this is an amendment, implying past adjustments. It's wise to monitor future 13G/A filings for further changes in BlackRock's position, as large institutional movements can influence market sentiment.
Key Numbers
- 49,909,006 — Shares Owned (BlackRock's total beneficial ownership in Centene Corp as of December 31, 2023.)
- 8.8% — Ownership Percentage (BlackRock's percentage stake in Centene Corp, indicating a significant institutional holding.)
- 14 — Amendment Number (This is the 14th amendment to BlackRock's Schedule 13G filing for Centene, showing ongoing adjustments to their position.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Centene Corp (company) — the subject company whose securities are being reported
- 49,909,006 (dollar_amount) — number of shares of Common Stock beneficially owned by BlackRock Inc.
- 8.8% (dollar_amount) — percentage of Centene Corp's class of securities beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event which required the filing of this statement
- January 26, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- BlackRock will maintain a significant, but potentially slightly adjusted, stake in Centene Corp throughout 2024. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
What is the primary purpose of this SC 13G/A filing by BlackRock Inc. regarding Centene Corp?
The primary purpose of this SC 13G/A filing is for BlackRock Inc. to report its beneficial ownership of Centene Corp's Common Stock as of December 31, 2023, as an amendment (No. 14) to its previous filings, in accordance with Rule 13d-1(b) of the Securities Exchange Act of 1934.
How many shares of Centene Corp's Common Stock does BlackRock Inc. beneficially own according to this filing?
According to the filing, BlackRock Inc. beneficially owns 49,909,006 shares of Centene Corp's Common Stock as of December 31, 2023.
What percentage of Centene Corp's class of securities does BlackRock Inc.'s ownership represent?
BlackRock Inc.'s ownership represents 8.8% of Centene Corp's class of securities, specifically its Common Stock, as stated in the filing.
What was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as indicated on the cover page of the filing.
Under which rule of the Securities Exchange Act of 1934 was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as designated by the 'X' in the appropriate box on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding CENTENE CORP (CNC).