Principal Financial Group Inc. Increases Stake in Concentra Group Holdings Parent, Inc. (NYSE:CON)

Principal Financial Group Inc. lifted its holdings in Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,440,925 shares of the company's stock after buying an additional 196,971 shares during the quarter. Principal Financial Group Inc. owned approximately 1.92% of Concentra Group Holdings Parent worth $52,968,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC purchased a new stake in shares of Concentra Group Holdings Parent in the 4th quarter worth about $25,000. Quadrant Capital Group LLC bought a new position in Concentra Group Holdings Parent in the 4th quarter worth about $30,000. Shell Asset Management Co. bought a new position in Concentra Group Holdings Parent in the 4th quarter worth about $48,000. Globeflex Capital L P bought a new position in Concentra Group Holdings Parent in the 4th quarter worth about $65,000. Finally, Covestor Ltd bought a new position in Concentra Group Holdings Parent in the 4th quarter worth about $81,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CON shares. Wells Fargo & Company dropped their price target on shares of Concentra Group Holdings Parent from $27.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. upped their price target on shares of Concentra Group Holdings Parent from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 19th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $28.50.

Concentra Group Holdings Parent Stock Performance

Shares of NYSE:CON traded up $0.03 during trading on Thursday, hitting $20.46. The company's stock had a trading volume of 861,779 shares, compared to its average volume of 762,627. The company has a 50-day moving average of $21.38 and a 200-day moving average of $21.49. Concentra Group Holdings Parent, Inc. has a 12 month low of $18.89 and a 12 month high of $24.81. The company has a debt-to-equity ratio of 5.18, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $2.62 billion and a price-to-earnings ratio of 15.27.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Concentra Group Holdings Parent had a net margin of 8.09% and a return on equity of 29.94%. The firm had revenue of $500.80 million for the quarter, compared to analysts' expectations of $496.06 million. During the same quarter in the prior year, the business earned $0.47 EPS. The business's quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that Concentra Group Holdings Parent, Inc. will post 1.47 earnings per share for the current year.

Concentra Group Holdings Parent Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Tuesday, May 20th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, May 20th. Concentra Group Holdings Parent's dividend payout ratio is 18.66%.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc provides occupational health services in the United States. The company offers occupational and consumer health services, including workers' compensation injury care, urgent care, clinical testing, preventative care, and employer services, as well as wellness programs through occupational health centers and onsite clinics.