Jennison Associates LLC Raises Stake in Concentra Group Holdings Parent, Inc. $CON

Jennison Associates LLC grew its position in Concentra Group Holdings Parent, Inc. (NYSE:CON) by 195.8% in the first quarter, HoldingsChannel.com reports. The firm owned 2,172,291 shares of the company’s stock after acquiring an additional 1,437,912 shares during the period. Jennison Associates LLC’s holdings in Concentra Group Holdings Parent were worth $46,596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Concentra Group Holdings Parent by 124.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock valued at $25,000 after purchasing an additional 663 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Concentra Group Holdings Parent by 2,784.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock worth $30,000 after buying an additional 1,392 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Concentra Group Holdings Parent by 49.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock worth $34,000 after buying an additional 528 shares during the period. Kestra Advisory Services LLC purchased a new stake in Concentra Group Holdings Parent in the 4th quarter worth $35,000. Finally, Osaic Holdings Inc. increased its stake in Concentra Group Holdings Parent by 59.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock worth $42,000 after buying an additional 761 shares in the last quarter.

Insider Buying and Selling

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the completion of the transaction, the director owned 633,455 shares in the company, valued at $19,320,377.50. This trade represents a 17.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 390,000 shares of company stock worth $10,465,000 over the last three months. 8.10% of the stock is currently owned by corporate insiders.

Concentra Group Holdings Parent Stock Performance

Shares of NYSE CON opened at $31.34 on Tuesday. The company has a market cap of $4.01 billion, a P/E ratio of 22.55, a P/E/G ratio of 1.44 and a beta of 0.64. Concentra Group Holdings Parent, Inc. has a 52-week low of $18.55 and a 52-week high of $32.35. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26. The firm’s fifty day moving average is $28.09 and its two-hundred day moving average is $24.32.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $569.55 million during the quarter, compared to the consensus estimate of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.52 EPS for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. Concentra Group Holdings Parent’s dividend payout ratio is presently 17.99%.

Analysts Set New Price Targets

A number of research firms have commented on CON. The Goldman Sachs Group started coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They set a “buy” rating and a $30.00 price target on the stock. Weiss Ratings upgraded Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. William Blair assumed coverage on Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They set an “outperform” rating on the stock. Finally, Truist Financial boosted their price target on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Concentra Group Holdings Parent has a consensus rating of “Moderate Buy” and a consensus price target of $31.40.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.