Zurich Insurance Group Ltd FI Sells 239,631 Shares of Cencora, Inc. (NYSE:COR)

Zurich Insurance Group Ltd FI lessened its stake in Cencora, Inc. (NYSE:COR) by 96.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,300 shares of the company’s stock after selling 239,631 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Cencora were worth $2,093,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. iA Global Asset Management Inc. boosted its holdings in Cencora by 400.5% during the 3rd quarter. iA Global Asset Management Inc. now owns 7,087 shares of the company’s stock worth $1,595,000 after acquiring an additional 5,671 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Cencora by 32.5% during the third quarter. EP Wealth Advisors LLC now owns 5,279 shares of the company’s stock valued at $1,188,000 after purchasing an additional 1,296 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after purchasing an additional 338,452 shares during the last quarter. Worldquant Millennium Advisors LLC grew its position in Cencora by 2,366.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 270,953 shares of the company’s stock worth $60,986,000 after purchasing an additional 259,966 shares in the last quarter. Finally, Wahed Invest LLC increased its stake in Cencora by 9.2% in the 3rd quarter. Wahed Invest LLC now owns 4,032 shares of the company’s stock valued at $908,000 after buying an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the transaction, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. The trade was a 13.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 93,018 shares of company stock valued at $22,478,942 in the last quarter. 15.80% of the stock is currently owned by corporate insiders.

Cencora Trading Down 0.4 %

NYSE:COR opened at $243.41 on Friday. The company has a market cap of $47.05 billion, a P/E ratio of 32.41, a P/E/G ratio of 1.65 and a beta of 0.45. Cencora, Inc. has a 1 year low of $195.83 and a 1 year high of $253.27. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The stock’s fifty day moving average price is $237.12 and its two-hundred day moving average price is $233.46.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.90%. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Mizuho initiated coverage on Cencora in a research note on Wednesday. They issued an “outperform” rating and a $280.00 price objective for the company. Bank of America reiterated a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Evercore ISI boosted their price target on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Barclays raised their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $276.80.

Cencora Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.