Patriot Financial Group Insurance Agency LLC Boosts Position in Cencora, Inc. (NYSE:COR)

Patriot Financial Group Insurance Agency LLC lifted its position in Cencora, Inc. (NYSE:COR) by 5.6% in the fourth quarter, HoldingsChannel reports. The firm owned 4,206 shares of the company’s stock after buying an additional 223 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Cencora were worth $945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COR. Perigon Wealth Management LLC lifted its stake in shares of Cencora by 15.5% in the 4th quarter. Perigon Wealth Management LLC now owns 2,427 shares of the company’s stock valued at $585,000 after purchasing an additional 325 shares during the last quarter. Pacer Advisors Inc. lifted its position in Cencora by 6.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after buying an additional 138,868 shares during the last quarter. KBC Group NV boosted its stake in Cencora by 18.4% during the fourth quarter. KBC Group NV now owns 329,035 shares of the company’s stock worth $73,928,000 after buying an additional 51,112 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Cencora during the fourth quarter valued at about $2,892,000. Finally, Blue Trust Inc. raised its stake in shares of Cencora by 14.2% in the 4th quarter. Blue Trust Inc. now owns 3,169 shares of the company’s stock valued at $713,000 after acquiring an additional 393 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the sale, the chairman now owns 306,752 shares of the company’s stock, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,187 shares of company stock valued at $17,790,912 over the last three months. 15.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on COR. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. Leerink Partners cut their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. UBS Group raised 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. Robert W. Baird boosted their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $277.00.

Cencora Stock Performance

NYSE:COR opened at $255.38 on Wednesday. The firm has a market capitalization of $49.36 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. 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 business’s fifty day moving average price is $238.03 and its 200 day moving average price is $235.30. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $256.81.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.55 per share. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.86%. Cencora’s payout ratio is presently 29.29%.

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.