Earnest Partners Lowers stake in Centene Corp (CNC)

Centene Corp (CNC) : Earnest Partners reduced its stake in Centene Corp by 1.66% during the most recent quarter end. The investment management company now holds a total of 1,941,635 shares of Centene Corp which is valued at $136,380,442 after selling 32,771 shares in Centene Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Centene Corp makes up approximately 1.33% of Earnest Partners’s portfolio.

Other Hedge Funds, Including , Qs Investors reduced its stake in CNC by selling 147,014 shares or 32.38% in the most recent quarter. The Hedge Fund company now holds 307,009 shares of CNC which is valued at $21,564,312. Centene Corp makes up approx 0.18% of Qs Investors’s portfolio.Acrospire Investment Management reduced its stake in CNC by selling 2,500 shares or 65.0% in the most recent quarter. The Hedge Fund company now holds 1,346 shares of CNC which is valued at $94,610. Centene Corp makes up approx 0.07% of Acrospire Investment Management’s portfolio.Ubs Asset Management Americas Inc reduced its stake in CNC by selling 86,122 shares or 16.99% in the most recent quarter. The Hedge Fund company now holds 420,789 shares of CNC which is valued at $29,278,499. Centene Corp makes up approx 0.03% of Ubs Asset Management Americas Inc’s portfolio.Advisors Asset Management reduced its stake in CNC by selling 2,635 shares or 15.68% in the most recent quarter. The Hedge Fund company now holds 14,175 shares of CNC which is valued at $986,297. Centene Corp makes up approx 0.02% of Advisors Asset Management’s portfolio.Janney Montgomery Scott boosted its stake in CNC in the latest quarter, The investment management firm added 2,253 additional shares and now holds a total of 7,443 shares of Centene Corp which is valued at $528,081. Centene Corp makes up approx 0.01% of Janney Montgomery Scott’s portfolio.

Centene Corp closed down -0.95 points or -1.39% at $67.34 with 7,46,807 shares getting traded on Thursday. Post opening the session at $68.12, the shares hit an intraday low of $67.19 and an intraday high of $68.59 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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 Downgraded by Leerink Partners to ” Mkt Perform” on Sep 6, 2016. 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 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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