The Manufacturers Life Insurance Company Reduces Position in Concentra Group Holdings Parent, Inc. $CON

The Manufacturers Life Insurance Company trimmed its position in Concentra Group Holdings Parent, Inc. (NYSE:CON) by 29.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,112,911 shares of the company’s stock after selling 464,699 shares during the period. The Manufacturers Life Insurance Company’s holdings in Concentra Group Holdings Parent were worth $23,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CON. Royal Bank of Canada grew its stake in Concentra Group Holdings Parent by 7.6% during the 1st quarter. Royal Bank of Canada now owns 81,441 shares of the company’s stock valued at $1,767,000 after purchasing an additional 5,754 shares during the last quarter. AQR Capital Management LLC acquired a new position in Concentra Group Holdings Parent in the 1st quarter worth approximately $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Concentra Group Holdings Parent by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,515 shares of the company’s stock worth $1,422,000 after buying an additional 2,873 shares during the period. Goldman Sachs Group Inc. increased its holdings in Concentra Group Holdings Parent by 48.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company’s stock worth $28,850,000 after buying an additional 434,503 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Concentra Group Holdings Parent by 10.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,526 shares of the company’s stock worth $4,568,000 after buying an additional 19,846 shares during the last quarter.

Insider Buying and Selling

In related news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the sale, the director owned 633,455 shares in the company, valued at approximately $19,320,377.50. This trade represents a 17.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 390,000 shares of company stock worth $10,465,000 in the last quarter. 8.10% of the stock is currently owned by company insiders.

Concentra Group Holdings Parent Trading Up 0.2%

Shares of NYSE:CON opened at $31.67 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent, Inc. has a 12-month low of $18.55 and a 12-month high of $32.86. The business has a 50 day moving average of $29.18 and a two-hundred day moving average of $25.04. The company has a market capitalization of $4.05 billion, a PE ratio of 22.79, a PEG ratio of 1.44 and a beta of 0.64.

Concentra Group Holdings Parent (NYSE:CON) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $569.55 million for the quarter, compared to analysts’ expectations 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 last year, the company earned $0.32 EPS. As a group, analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.52 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were issued 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 17.99%.

Wall Street Analyst Weigh In

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

Concentra Group Holdings Parent 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.