Cencora, Inc. (NYSE:COR) Shares Sold by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI lowered its position in Cencora, Inc. (NYSE:COR - Free Report) by 96.3% in the third quarter, according to the company in 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 quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company's stock valued at $464,874,000 after buying an additional 2,035,679 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Cencora by 136.8% in the second quarter. Bank of Montreal Can now owns 641,887 shares of the company's stock valued at $153,623,000 after acquiring an additional 370,841 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Cencora by 155.0% during the second quarter. American Century Companies Inc. now owns 598,438 shares of the company's stock valued at $134,828,000 after acquiring an additional 363,796 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company's stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company's stock worth $368,771,000 after purchasing an additional 292,600 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Stock Down 0.4 %

Shares of COR traded down $0.90 during trading on Friday, reaching $243.41. The company's stock had a trading volume of 1,199,812 shares, compared to its average volume of 1,126,541. The company has a market cap of $47.05 billion, a price-to-earnings ratio of 32.41, a P/E/G ratio of 1.65 and a beta of 0.45. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The company has a fifty day moving average of $237.12 and a two-hundred day moving average of $233.57. Cencora, Inc. has a twelve month low of $195.83 and a twelve month high of $253.27.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. This is an increase from Cencora's previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. Cencora's dividend payout ratio is 29.29%.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm's stock in a transaction dated 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 transaction, the chairman now directly owns 306,752 shares in the company, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 93,018 shares of company stock valued at $22,478,942 in the last ninety days. Corporate insiders own 15.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com downgraded Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. JPMorgan Chase & Co. upped their target price on Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Bank of America reissued a "neutral" rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Mizuho started coverage on Cencora in a report on Wednesday. They issued an "outperform" rating and a $280.00 price target for the company. Finally, Leerink Partners cut their price objective on shares of Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Two 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, the company currently has an average rating of "Moderate Buy" and an average price target of $276.80.

About Cencora

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.