Smith Asset Management Group Lp Lowers stake in Centene Corp (CNC)

Centene Corp (CNC) : Smith Asset Management Group Lp reduced its stake in Centene Corp by 9.89% during the most recent quarter end. The investment management company now holds a total of 1,042,806 shares of Centene Corp which is valued at $70,295,552 after selling 114,505 shares in Centene Corp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Centene Corp makes up approximately 2.04% of Smith Asset Management Group Lp’s portfolio.

Other Hedge Funds, Including , Candriam Luxembourg S.c.a. added CNC to its portfolio by purchasing 6,018 company shares during the most recent quarter which is valued at $405,673. Centene Corp makes up approx 0.01% of Candriam Luxembourg S.c.a.’s portfolio.Highland Capital Management reduced its stake in CNC by selling 1 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 14,223 shares of CNC which is valued at $1,030,456. Centene Corp makes up approx 0.09% of Highland Capital Management’s portfolio.Eqis Capital Management boosted its stake in CNC in the latest quarter, The investment management firm added 22,184 additional shares and now holds a total of 27,189 shares of Centene Corp which is valued at $1,960,599. Centene Corp makes up approx 0.13% of Eqis Capital Management’s portfolio.Nn Investment Partners Holdings N.v. boosted its stake in CNC in the latest quarter, The investment management firm added 15,648 additional shares and now holds a total of 33,074 shares of Centene Corp which is valued at $2,390,589. Centene Corp makes up approx 0.02% of Nn Investment Partners Holdings N.v.’s portfolio.Cue Financial Group reduced its stake in CNC by selling 130 shares or 0.62% in the most recent quarter. The Hedge Fund company now holds 20,870 shares of CNC which is valued at $1,508,484. Centene Corp makes up approx 1.26% of Cue Financial Group’s portfolio.

Centene Corp opened for trading at $69.37 and hit $70.81 on the upside on Friday, eventually ending the session at $70.55, with a gain of 0.84% or 0.59 points. The heightened volatility saw the trading volume jump to 17,60,639 shares. Company has a market cap of $12,045 M.

On the company’s financial health, Centene Corp reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.09. The company had revenue of $10897.00 million for the quarter, compared to analysts expectations of $10806.33 million. The company’s revenue was up 97.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on Centene Corp. Centene Corp was Upgraded by Morgan Stanley to ” Overweight” on Jun 29, 2016. Company shares were Upgraded by Barclays on Jun 20, 2016 to ” Overweight”, Firm has raised the Price Target to $ 82 from a previous price target of $76 .Centene Corp was Initiated by Bernstein to “Mkt Perform” on Jun 16, 2016.

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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