Great West Life Assurance Co. Can Trims Stake in Chemed Co. (CHE)
Great West Life Assurance Co. Can cut its stake in shares of Chemed Co. (NYSE:CHE) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,743 shares of the company’s stock after selling 1,644 shares during the quarter. Great West Life Assurance Co. Can owned 0.14% of Chemed worth $4,299,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in shares of Chemed during the 2nd quarter worth $120,000. Pacad Investment Ltd. boosted its stake in shares of Chemed by 250.0% during the 2nd quarter. Pacad Investment Ltd. now owns 700 shares of the company’s stock worth $143,000 after acquiring an additional 500 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Chemed by 1,504.5% during the 3rd quarter. IFP Advisors Inc now owns 706 shares of the company’s stock worth $143,000 after acquiring an additional 662 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Chemed by 12.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 731 shares of the company’s stock worth $150,000 after acquiring an additional 83 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of Chemed during the 3rd quarter worth $152,000. 97.75% of the stock is owned by institutional investors and hedge funds.
Shares of Chemed Co. (CHE) opened at $238.65 on Friday. The stock has a market capitalization of $3,810.29, a price-to-earnings ratio of 29.39, a PEG ratio of 5.05 and a beta of 1.16. Chemed Co. has a 1-year low of $151.23 and a 1-year high of $251.00. The company has a quick ratio of 0.48, a current ratio of 0.50 and a debt-to-equity ratio of 0.15.
Chemed (NYSE:CHE) last released its earnings results on Thursday, October 26th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.15. The company had revenue of $417.40 million during the quarter, compared to analyst estimates of $414.34 million. Chemed had a return on equity of 27.69% and a net margin of 4.62%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. sell-side analysts expect that Chemed Co. will post 4.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 13th were issued a $0.28 dividend. The ex-dividend date was Friday, November 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.47%. Chemed’s payout ratio is currently 24.89%.
In related news, VP Michael D. Witzeman sold 1,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the completion of the sale, the vice president now directly owns 3,334 shares in the company, valued at $833,500. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Patrick P. Grace sold 500 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $201.48, for a total value of $100,740.00. Following the sale, the director now owns 4,515 shares of the company’s stock, valued at $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 90 days. Corporate insiders own 4.90% of the company’s stock.
CHE has been the subject of several research reports. KeyCorp reissued a “hold” rating on shares of Chemed in a research note on Friday, October 27th. Royal Bank Of Canada reissued a “hold” rating and set a $209.00 price objective on shares of Chemed in a research note on Tuesday, October 3rd. Zacks Investment Research lowered Chemed from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. ValuEngine lowered Chemed from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, TheStreet upgraded Chemed from a “c+” rating to an “a-” rating in a report on Friday, October 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $236.00.
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Chemed Company Profile
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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