JPMorgan Chase & Co. Boosts Stock Position in Concentra Group Holdings Parent, Inc. $CON

JPMorgan Chase & Co. lifted its stake in Concentra Group Holdings Parent, Inc. (NYSE:CON) by 13.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,874,283 shares of the company’s stock after acquiring an additional 445,449 shares during the period. JPMorgan Chase & Co.’s holdings in Concentra Group Holdings Parent were worth $81,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CIBC Bancorp USA Inc. bought a new stake in shares of Concentra Group Holdings Parent during the third quarter valued at about $261,000. 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 valued at $30,000 after purchasing an additional 1,392 shares during the period. Woodline Partners LP grew its position in shares of Concentra Group Holdings Parent by 142.7% during the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock valued at $57,484,000 after purchasing an additional 1,614,988 shares in the last quarter. Voleon Capital Management LP bought a new position in shares of Concentra Group Holdings Parent in the third quarter worth $448,000. Finally, Qube Research & Technologies Ltd boosted its stake in Concentra Group Holdings Parent by 206.5% during the third quarter. Qube Research & Technologies Ltd now owns 554,338 shares of the company’s stock valued at $11,602,000 after buying an additional 373,495 shares during the period.

Concentra Group Holdings Parent Trading Up 0.1%

Shares of CON opened at $22.81 on Thursday. The company’s fifty day moving average is $22.58 and its 200 day moving average is $21.17. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $2.93 billion, a PE ratio of 17.55, a P/E/G ratio of 1.18 and a beta of 0.60. Concentra Group Holdings Parent, Inc. has a fifty-two week low of $18.55 and a fifty-two week high of $24.68.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. The company had revenue of $539.08 million for the quarter. Concentra Group Holdings Parent had a return on equity of 48.46% and a net margin of 7.69%.The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 EPS. Sell-side analysts expect that Concentra Group Holdings Parent, Inc. will post 1.47 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 12th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, March 12th. Concentra Group Holdings Parent’s payout ratio is presently 19.23%.

Analysts Set New Price Targets

A number of research firms have weighed in on CON. Weiss Ratings restated a “hold (c-)” rating on shares of Concentra Group Holdings Parent in a research report on Monday, December 29th. Royal Bank Of Canada upped their price objective on shares of Concentra Group Holdings Parent from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Zacks Research raised shares of Concentra Group Holdings Parent from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 24th. Wells Fargo & Company increased their target price on Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen upgraded Concentra Group Holdings Parent from a “hold” rating to a “buy” rating in a research note on Saturday, December 27th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Concentra Group Holdings Parent presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Concentra Group Holdings Parent Company Profile

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.