Principal Financial Group Inc. Purchases 41,891 Shares of Concentra Group Holdings Parent, Inc. $CON

Principal Financial Group Inc. raised its position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) by 1.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,668,512 shares of the company’s stock after purchasing an additional 41,891 shares during the quarter. Principal Financial Group Inc.’s holdings in Concentra Group Holdings Parent were worth $57,238,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted 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 acquiring an additional 663 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Concentra Group Holdings Parent by 2,784.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock worth $30,000 after purchasing an additional 1,392 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Concentra Group Holdings Parent by 49.1% in the third quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock worth $34,000 after purchasing an additional 528 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Concentra Group Holdings Parent during the fourth quarter valued at $35,000. Finally, Osaic Holdings Inc. raised its stake in Concentra Group Holdings Parent by 59.5% during the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock valued at $42,000 after purchasing an additional 761 shares in the last quarter.

Concentra Group Holdings Parent Stock Down 0.0%

NYSE CON opened at $31.63 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent, Inc. has a 52 week low of $18.55 and a 52 week high of $32.35. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.44 and a beta of 0.64. The company has a fifty day moving average of $27.96 and a two-hundred day moving average of $24.21.

Concentra Group Holdings Parent (NYSE:CON) last announced its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $569.55 million for 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 for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. On average, analysts predict that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current year.

Concentra Group Holdings Parent Announces Dividend

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

Insiders Place Their Bets

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total value of $3,965,000.00. Following the completion of the sale, the director owned 633,455 shares of the company’s stock, valued at $19,320,377.50. This trade represents a 17.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 390,000 shares of company stock valued at $10,465,000. Corporate insiders own 8.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CON. William Blair initiated coverage on shares of Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They issued an “outperform” rating for the company. The Goldman Sachs Group initiated coverage on shares of Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a “buy” rating and a $30.00 price target for the company. 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. Finally, Truist Financial boosted their price objective on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.40.

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.