Homrich Berg Lowers stake in Centene Corp (CNC)

Centene Corp (CNC) : Homrich Berg reduced its stake in Centene Corp by 27.11% during the most recent quarter end. The investment management company now holds a total of 35,230 shares of Centene Corp which is valued at $2,474,555 after selling 13,100 shares in Centene Corp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Centene Corp makes up approximately 0.23% of Homrich Berg’s portfolio.

Other Hedge Funds, Including , Systematic Financial Management Lp reduced its stake in CNC by selling 107,381 shares or 7.24% in the most recent quarter. The Hedge Fund company now holds 1,375,231 shares of CNC which is valued at $96,664,987. Centene Corp makes up approx 1.25% of Systematic Financial Management Lp’s portfolio.Chartwell Investment Partners boosted its stake in CNC in the latest quarter, The investment management firm added 406,225 additional shares and now holds a total of 1,261,546 shares of Centene Corp which is valued at $89,506,689. Centene Corp makes up approx 1.51% of Chartwell Investment Partners’s portfolio.Swiss National Bank boosted its stake in CNC in the latest quarter, The investment management firm added 34,059 additional shares and now holds a total of 476,364 shares of Centene Corp which is valued at $34,079,081. Centene Corp makes up approx 0.05% of Swiss National Bank’s portfolio.Capstone Asset Management Co boosted its stake in CNC in the latest quarter, The investment management firm added 13,380 additional shares and now holds a total of 31,957 shares of Centene Corp which is valued at $2,309,852. Centene Corp makes up approx 0.07% of Capstone Asset Management Co’s portfolio.

Centene Corp opened for trading at $69.01 and hit $70.16 on the upside on Friday, eventually ending the session at $70.08, with a gain of 0.94% or 0.65 points. The heightened volatility saw the trading volume jump to 11,46,731 shares. Company has a market cap of $11,965 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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