Smith Asset Management Group Lp buys $69,160,905 stake in Centene Corp (CNC)

Centene Corp (CNC) : Smith Asset Management Group Lp scooped up 392,672 additional shares in Centene Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 1,157,311 shares of Centene Corp which is valued at $69,160,905.Centene Corp makes up approximately 2.08% of Smith Asset Management Group Lp’s portfolio.

Other Hedge Funds, Including , Bluecrest Capital Management Ltd sold out all of its stake in CNC during the most recent quarter. The investment firm sold 10,322 shares of CNC which is valued $616,843.Sphinx Trading Lp reduced its stake in CNC by selling 3,400 shares or 94.44% in the most recent quarter. The Hedge Fund company now holds 200 shares of CNC which is valued at $12,392. Centene Corp makes up approx 0.12% of Sphinx Trading Lp’s portfolio.Tci Wealth Advisors reduced its stake in CNC by selling 700 shares or 26.92% in the most recent quarter. The Hedge Fund company now holds 1,900 shares of CNC which is valued at $117,724. Centene Corp makes up approx 0.06% of Tci Wealth Advisors’s portfolio.Quadrant Capital Group boosted its stake in CNC in the latest quarter, The investment management firm added 136 additional shares and now holds a total of 1,955 shares of Centene Corp which is valued at $121,132. Centene Corp makes up approx 0.08% of Quadrant Capital Group’s portfolio. Jnba Financial Advisors added CNC to its portfolio by purchasing 55 company shares during the most recent quarter which is valued at $3,429.

Centene Corp closed down -1.5 points or -2.47% at $59.16 with 25,44,002 shares getting traded on Tuesday. Post opening the session at $60.89, the shares hit an intraday low of $58.62 and an intraday high of $60.98 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Centene Corp reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.70. The company had revenue of $6953.00 million for the quarter, compared to analysts expectations of $6715.96 million. The company’s revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Centene Corp. Shares were Reiterated by Barclays on Feb 10, 2016 to “Equal Weight” and Lowered the Price Target to $ 64 from a previous price target of $72 .

Centene Corporation is a healthcare company. The Company provides programs and services to Government sponsored healthcare programs. It offers member-focused services by assisting in accessing care coordinating referrals to related health and social services and addressing member concerns and questions. It also provides education and outreach programs to inform and assist members in accessing healthcare services. The Company operates in two segments: Managed Care and Specialty Services. The Managed Care segment provides health plan coverage to individuals through Government subsidized programs including Medicaid the State Children’s Health Insurance Program (CHIP) Long Term Care (LTC) Foster Care dual-eligible individuals (Duals) and the Supplemental Security Income Program also known as the Aged Blind or Disabled Program (ABD). The Specialty Services segment consists of the Company’s specialty companies offering auxiliary healthcare services and products.

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