Webster Financial (WBS) Touches $59.58 High on Jan, 14; Oppenheimer Asset Management Lowered By $728,256 Its Centene Del (CNC) Position

January 14, 2018 - By Henry Gaston

Oppenheimer Asset Management Inc decreased Centene Corp Del (CNC) stake by 5.99% reported in 2017Q3 SEC filing. Oppenheimer Asset Management Inc sold 7,586 shares as Centene Corp Del (CNC)’s stock rose 11.03%. The Oppenheimer Asset Management Inc holds 119,098 shares with $11.53M value, down from 126,684 last quarter. Centene Corp Del now has $18.89 billion valuation. The stock increased 2.53% or $2.7 during the last trading session, reaching $109.48. About 757,907 shares traded. Centene Corporation (NYSE:CNC) has risen 32.56% since January 14, 2017 and is uptrending. It has outperformed by 15.86% the S&P500.

The stock of Webster Financial Corporation (NYSE:WBS) reached all time high today, Jan, 14 and still has $61.37 target or 3.00% above today’s $59.58 share price. This indicates more upside for the $5.90B company. This technical setup was reported by Barchart.com. If the $61.37 PT is reached, the company will be worth $177.12 million more. The stock increased 0.98% or $0.58 during the last trading session, reaching $59.58. About 446,408 shares traded. Webster Financial Corporation (NYSE:WBS) has risen 33.32% since January 14, 2017 and is uptrending. It has outperformed by 16.62% the S&P500.

Among 17 analysts covering Webster Financial (NYSE:WBS), 8 have Buy rating, 1 Sell and 8 Hold. Therefore 47% are positive. Webster Financial has $71.0 highest and $35 lowest target. $49.60’s average target is -16.75% below currents $59.58 stock price. Webster Financial had 46 analyst reports since July 20, 2015 according to SRatingsIntel. The stock of Webster Financial Corporation (NYSE:WBS) has “Neutral” rating given on Friday, January 5 by PiperJaffray. The stock has “Mkt Perform” rating by FBR Capital on Monday, January 25. The rating was maintained by Wells Fargo on Tuesday, January 9 with “Hold”. Piper Jaffray maintained Webster Financial Corporation (NYSE:WBS) on Thursday, July 13 with “Sell” rating. The firm earned “Hold” rating on Friday, September 15 by Jefferies. As per Friday, August 5, the company rating was downgraded by Barclays Capital. As per Friday, January 15, the company rating was upgraded by Guggenheim. The stock of Webster Financial Corporation (NYSE:WBS) earned “Hold” rating by Deutsche Bank on Wednesday, November 8. Jefferies maintained the stock with “Hold” rating in Friday, June 9 report. The firm has “Overweight” rating given on Friday, October 9 by Barclays Capital.

Webster Financial Corporation operates as the holding firm for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. The company has market cap of $5.90 billion. It operates through four divisions: Commercial Banking, Community Banking, HSA Bank, and Private Banking. It has a 23.46 P/E ratio. The Commercial Banking segment provides lending, deposit, and cash management services to middle market companies; and asset lending, commercial real estate, and equipment finance, as well as treasury and payment services, which include government and institutional banking.

Analysts await Webster Financial Corporation (NYSE:WBS) to report earnings on January, 18. They expect $0.66 earnings per share, up 10.00% or $0.06 from last year’s $0.6 per share. WBS’s profit will be $65.40M for 22.57 P/E if the $0.66 EPS becomes a reality. After $0.67 actual earnings per share reported by Webster Financial Corporation for the previous quarter, Wall Street now forecasts -1.49% negative EPS growth.

Since August 2, 2017, it had 0 buys, and 5 insider sales for $2.92 million activity. Another trade for 8,943 shares valued at $500,220 was sold by SMITH JAMES COPENHAVER. 11,516 shares valued at $631,435 were sold by CRAWFORD JOHN JOSEPH on Tuesday, October 24. The insider BLEY DANIEL sold 1,486 shares worth $81,338. Mhatre Nitin J. also sold $1.64 million worth of Webster Financial Corporation (NYSE:WBS) shares.

Investors sentiment decreased to 0.96 in Q3 2017. Its down 0.15, from 1.11 in 2017Q2. It dived, as 29 investors sold Webster Financial Corporation shares while 79 reduced holdings. 22 funds opened positions while 82 raised stakes. 84.59 million shares or 1.90% less from 86.23 million shares in 2017Q2 were reported. Panagora Asset Mngmt accumulated 245,690 shares or 0.05% of the stock. Tower Ltd Llc (Trc) invested 0% of its portfolio in Webster Financial Corporation (NYSE:WBS). 14,856 are held by Essex. Oregon Employees Retirement Fund, a Oregon-based fund reported 33,992 shares. Art Limited Liability Com reported 0.03% in Webster Financial Corporation (NYSE:WBS). Mason Street Advsr reported 45,700 shares stake. Gemmer Asset Mngmt Ltd accumulated 0.01% or 274 shares. Profund Ltd Liability invested in 0.03% or 11,657 shares. Geode Capital Mngmt Ltd Liability Company reported 764,474 shares stake. Avalon Advsr Limited Liability Com, Texas-based fund reported 25,365 shares. 188,366 are owned by Amer Group Inc. Pennsylvania-based Federated Pa has invested 0.01% in Webster Financial Corporation (NYSE:WBS). Pennsylvania-based Commonwealth Of Pennsylvania School Empls Retrmt has invested 0.01% in Webster Financial Corporation (NYSE:WBS). Price T Rowe Associates Incorporated Md holds 0.09% or 9.56 million shares. Cna Fincl Corp holds 0.3% or 22,979 shares in its portfolio.

Investors sentiment decreased to 1.07 in Q3 2017. Its down 0.14, from 1.21 in 2017Q2. It dropped, as 54 investors sold CNC shares while 174 reduced holdings. 83 funds opened positions while 160 raised stakes. 150.53 million shares or 0.42% less from 151.16 million shares in 2017Q2 were reported. Toronto Dominion Bank & Trust stated it has 0.02% in Centene Corporation (NYSE:CNC). Natl Bank Of America De invested in 0.05% or 3.09 million shares. Qs Lc has invested 0.01% in Centene Corporation (NYSE:CNC). North Star Mngmt Corporation stated it has 0% in Centene Corporation (NYSE:CNC). Moneta Group Advsrs Limited Liability Com has invested 0.1% in Centene Corporation (NYSE:CNC). Lpl Fin Limited Company holds 0.01% or 17,930 shares. Numeric Lc reported 939,900 shares stake. Shamrock Asset Lc holds 261 shares or 0.02% of its portfolio. The New Jersey-based Gargoyle Invest Advisor Limited Liability has invested 0.31% in Centene Corporation (NYSE:CNC). Jacobs Levy Equity has 118,219 shares for 0.22% of their portfolio. Gru One Trading LP holds 0% or 3,233 shares. Cambridge Investment Research Advsrs holds 0.02% in Centene Corporation (NYSE:CNC) or 18,268 shares. Mitsubishi Ufj Trust Bk Corp has invested 0.06% in Centene Corporation (NYSE:CNC). Pitcairn Com owns 16,894 shares or 0.19% of their US portfolio. Pinebridge Investments LP accumulated 26,489 shares or 0.06% of the stock.

Analysts await Centene Corporation (NYSE:CNC) to report earnings on February, 6. They expect $0.93 earnings per share, down 21.85% or $0.26 from last year’s $1.19 per share. CNC’s profit will be $160.49 million for 29.43 P/E if the $0.93 EPS becomes a reality. After $1.35 actual earnings per share reported by Centene Corporation for the previous quarter, Wall Street now forecasts -31.11% negative EPS growth.

Since July 20, 2017, it had 0 insider buys, and 4 sales for $2.59 million activity. The insider DITMORE ROBERT K sold 4,167 shares worth $376,780. $987,300 worth of stock was sold by Hunter Jesse N on Tuesday, December 19. $317,720 worth of Centene Corporation (NYSE:CNC) was sold by BOWERS CHRISTOPHER D on Thursday, July 20.

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