Principal Financial Group Inc. Raises Holdings in Chemed Corp. (CHE)
Principal Financial Group Inc. raised its stake in Chemed Corp. (NYSE:CHE) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,232 shares of the company’s stock after purchasing an additional 995 shares during the period. Principal Financial Group Inc. owned approximately 0.83% of Chemed Corp. worth $27,250,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of CHE. Glen Harbor Capital Management LLC boosted its holdings in Chemed Corp. by 11.4% in the 1st quarter. Glen Harbor Capital Management LLC now owns 624 shares of the company’s stock valued at $114,000 after purchasing an additional 64 shares during the period. Strs Ohio boosted its holdings in Chemed Corp. by 38.5% in the 1st quarter. Strs Ohio now owns 1,800 shares of the company’s stock valued at $328,000 after purchasing an additional 500 shares during the period. Wells Fargo & Company MN boosted its holdings in Chemed Corp. by 2.8% in the 1st quarter. Wells Fargo & Company MN now owns 67,598 shares of the company’s stock valued at $12,350,000 after purchasing an additional 1,853 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Chemed Corp. by 6.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 22,884 shares of the company’s stock valued at $4,179,000 after purchasing an additional 1,460 shares during the period. Finally, Tyers Asset Management LLC boosted its holdings in Chemed Corp. by 11.4% in the 1st quarter. Tyers Asset Management LLC now owns 858 shares of the company’s stock valued at $157,000 after purchasing an additional 88 shares during the period. 96.96% of the stock is owned by hedge funds and other institutional investors.
Chemed Corp. (CHE) opened at 192.46 on Friday. Chemed Corp. has a 52 week low of $132.92 and a 52 week high of $216.01. The stock has a 50 day moving average of $195.02 and a 200-day moving average of $195.17. The firm has a market cap of $3.08 billion, a PE ratio of 47.74 and a beta of 1.14.
Chemed Corp. (NYSE:CHE) last released its quarterly earnings data on Tuesday, July 25th. The company reported $2.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.26. Chemed Corp. had a net margin of 4.16% and a return on equity of 26.18%. The firm had revenue of $415.06 million during the quarter, compared to analysts’ expectations of $407.56 million. During the same period in the previous year, the business posted $1.80 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts expect that Chemed Corp. will post $8.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. This is a boost from Chemed Corp.’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, August 10th. Chemed Corp.’s payout ratio is 28.07%.
CHE has been the subject of a number of research reports. BidaskClub downgraded shares of Chemed Corp. from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research raised shares of Chemed Corp. from a “hold” rating to a “buy” rating and set a $213.00 price target for the company in a report on Wednesday, August 23rd. TheStreet downgraded shares of Chemed Corp. from a “b+” rating to a “c+” rating in a report on Tuesday, July 25th. Royal Bank Of Canada reissued a “hold” rating and issued a $209.00 price target on shares of Chemed Corp. in a report on Friday, September 1st. Finally, Oppenheimer Holdings, Inc. increased their price target on shares of Chemed Corp. from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $214.00.
In other news, insider Kevin J. Mcnamara sold 15,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $201.16, for a total value of $3,017,400.00. Following the completion of the sale, the insider now owns 173,801 shares of the company’s stock, valued at $34,961,809.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George J. Walsh III bought 1,000 shares of Chemed Corp. stock in a transaction dated Monday, June 26th. The stock was acquired at an average cost of $204.56 per share, with a total value of $204,560.00. Following the transaction, the director now owns 7,908 shares of the company’s stock, valued at approximately $1,617,660.48. The disclosure for this purchase can be found here. Insiders own 5.32% of the company’s stock.
About Chemed Corp.
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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