filings.toolsItem 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market for Common Stock
Our common stock has been traded and quoted on the New York Stock Exchange (NYSE) under the symbol "CNC" since October 16, 2003.
Stockholders
As of February 14, 2025, there were 980 holders of record of our common stock.
Issuer Purchases of Equity Securities
In November 2005, the Company's Board of Directors announced a stock repurchase program, which was most recently increased in December 2023. The Company is authorized to repurchase up to $10.0 billion, inclusive of past authorizations, of which $2.2 billion remains as of December 31, 2024.
The stock repurchase program is effected primarily through regular open-market purchases (which may include repurchase plans designed to comply with Rule 10b5-1 and accelerated share repurchases), the amounts and timing of which are subject to our discretion as part of our capital allocation strategy and may be based upon general market conditions and the prevailing price and trading volumes of our common stock. No duration has been placed on the repurchase program. We reserve the right to discontinue the repurchase program at any time.
The following table discloses purchases of our common stock for the quarter ended December 31, 2024.
| Issuer Purchases of Equity Securities Fourth Quarter 2024 (Shares in thousands) | |||||||||||||||||||||||||||||
| Execution Date | Total Number of Shares Purchased**(1)** | Average Price Paid per Share**(2)** | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs ($ in millions)****(3) | |||||||||||||||||||||||||
| October 1, 2024 - October 31, 2024 | 7,368 | $ | 69.48 | 7,360 | $ | 2,649 | |||||||||||||||||||||||
| November 1, 2024 - November 30, 2024 | 7,060 | 59.61 | 7,032 | 2,230 | |||||||||||||||||||||||||
| December 1, 2024 - December 31, 2024 | 14 | 59.45 | — | 2,230 | |||||||||||||||||||||||||
| Total | 14,442 | $ | 64.64 | 14,392 | $ | 2,230 | |||||||||||||||||||||||
| (1) | Includes 29 thousand shares relinquished to the Company by certain employees for payment of taxes; an open market purchase of 4 thousand shares by Sarah London, the Company's CEO, at a weighted average price of $60.80 which was previously disclosed on the Form 4 filed with the SEC on November 8, 2024; and an open market purchase of 17 thousand shares by Andrew Asher, the Company's CFO, at a weighted average price of $58.14 which was previously disclosed on the Form 4 filed with the SEC on November 13, 2024. | ||||||||||||||||||||||||||||
| (2) | Average price paid per share excludes quarter-to-date accrued share repurchase excise tax of approximately $10 million. | ||||||||||||||||||||||||||||
| (3) | A remaining amount of $2.2 billion is available under the stock repurchase program as of December 31, 2024. |
Stock Performance Graph
The graph below compares the cumulative total stockholder return on our common stock for the period from December 31, 2019 to December 31, 2024, with the cumulative total return of the NYSE Composite Index, the Standard & Poor's (S&P) Health Care Index and the S&P 500 over the same period. S&P 500 is included because our common stock is within the index. The graph assumes an investment of $100 on December 31, 2019 in our common stock (at the last reported sale price on such day), the NYSE Composite Index, the S&P Health Care Index and the S&P 500 and assumes the reinvestment of any dividends.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | ||||||||||||||||||||||||||||||
| Centene Corporation | $ | 100.00 | $ | 95.48 | $ | 131.06 | $ | 130.44 | $ | 118.04 | $ | 96.36 | |||||||||||||||||||||||
| NYSE Composite Index | 100.00 | 106.99 | 129.11 | 117.04 | 133.20 | 154.36 | |||||||||||||||||||||||||||||
| S&P Health Care Index | 100.00 | 113.45 | 143.09 | 140.29 | 143.18 | 146.87 | |||||||||||||||||||||||||||||
| S&P 500 | 100.00 | 118.40 | 152.39 | 124.79 | 157.60 | 196.99 | |||||||||||||||||||||||||||||
| Centene Corporation closing stock price | $ | 62.87 | $ | 60.03 | $ | 82.40 | $ | 82.01 | $ | 74.21 | $ | 60.58 | |||||||||||||||||||||||
| Centene Corporation annual stockholder return | 9.1% | (4.5)% | 37.3% | (0.5)% | (9.5)% | (18.4)% |
In accordance with the rules of the Securities and Exchange Commission (SEC), the information contained in the Stock Performance Graph on this page shall not be deemed to be "soliciting material," or to be "filed" with the SEC or subject to the SEC's Regulation 14A or to the liabilities of Section 18 of the Exchange Act, except to the extent that Centene specifically requests that the information be treated as soliciting material or specifically incorporates it by reference into a document filed under the Securities Act or the Exchange Act.
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