Allianz Asset Management GmbH lifted its position in shares of Chemed Co. (NYSE:CHE) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,120 shares of the company’s stock after purchasing an additional 1,445 shares during the period. Allianz Asset Management GmbH owned 0.15% of Chemed worth $4,873,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Chemed by 1.9% in the second quarter. Vanguard Group Inc. now owns 1,830,711 shares of the company’s stock worth $374,435,000 after acquiring an additional 34,938 shares during the period. State Street Corp raised its position in Chemed by 1.8% in the second quarter. State Street Corp now owns 453,605 shares of the company’s stock worth $92,782,000 after acquiring an additional 8,238 shares during the period. Investec Asset Management LTD raised its position in Chemed by 1.8% in the third quarter. Investec Asset Management LTD now owns 323,231 shares of the company’s stock worth $65,309,000 after acquiring an additional 5,717 shares during the period. Voya Investment Management LLC raised its position in Chemed by 39.7% in the second quarter. Voya Investment Management LLC now owns 214,764 shares of the company’s stock worth $43,926,000 after acquiring an additional 61,056 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Chemed by 111.5% in the third quarter. JPMorgan Chase & Co. now owns 182,551 shares of the company’s stock worth $36,125,000 after acquiring an additional 96,237 shares during the period. 97.71% of the stock is currently owned by institutional investors.
CHE has been the topic of several research reports. Royal Bank of Canada lifted their price objective on shares of Chemed to $232.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 31st. KeyCorp reaffirmed a “hold” rating on shares of Chemed in a research report on Friday, October 27th. TheStreet raised shares of Chemed from a “c+” rating to an “a-” rating in a research report on Friday, October 27th. Zacks Investment Research raised shares of Chemed from a “hold” rating to a “buy” rating and set a $251.00 price objective on the stock in a research report on Thursday, November 2nd. Finally, ValuEngine lowered shares of Chemed from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Chemed presently has an average rating of “Hold” and an average target price of $236.00.
Chemed (NYSE:CHE) last posted its earnings results on Thursday, October 26th. The company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The firm had revenue of $417.40 million during the quarter, compared to the consensus estimate of $414.34 million. Chemed had a net margin of 4.62% and a return on equity of 27.69%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.73 earnings per share. equities analysts forecast that Chemed Co. will post 4.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 13th were paid a $0.28 dividend. The ex-dividend date was Friday, November 10th. This represents a $1.12 annualized dividend and a dividend yield of 0.46%. Chemed’s payout ratio is 24.89%.
In other news, VP Michael D. Witzeman sold 1,000 shares of Chemed stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the transaction, the vice president now owns 3,334 shares in the company, valued at $833,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick P. Grace sold 500 shares of Chemed stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $201.48, for a total transaction of $100,740.00. Following the completion of the transaction, the director now owns 4,515 shares of the company’s stock, valued at approximately $909,682.20. The disclosure for this sale can be found here. Insiders sold 46,179 shares of company stock valued at $10,729,699 in the last quarter. Corporate insiders own 4.90% of the company’s stock.
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Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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