Paloma Partners Management Co lifted its stake in Chemed Co. (NYSE:CHE) by 165.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,087 shares of the company’s stock after acquiring an additional 3,174 shares during the quarter. Paloma Partners Management Co’s holdings in Chemed were worth $1,236,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Chemed by 2.4% during the fourth quarter. BlackRock Inc. now owns 2,079,274 shares of the company’s stock worth $505,307,000 after buying an additional 49,135 shares during the last quarter. Investec Asset Management LTD increased its position in Chemed by 1.8% during the third quarter. Investec Asset Management LTD now owns 323,231 shares of the company’s stock worth $65,309,000 after buying an additional 5,717 shares during the last quarter. JPMorgan Chase & Co. increased its position in Chemed by 111.5% during the third quarter. JPMorgan Chase & Co. now owns 182,551 shares of the company’s stock worth $36,125,000 after buying an additional 96,237 shares during the last quarter. Russell Investments Group Ltd. increased its position in Chemed by 9.7% during the third quarter. Russell Investments Group Ltd. now owns 159,782 shares of the company’s stock worth $32,285,000 after buying an additional 14,071 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Chemed by 7.0% during the third quarter. Ameriprise Financial Inc. now owns 130,952 shares of the company’s stock worth $26,462,000 after buying an additional 8,517 shares during the last quarter. 94.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chemed Co. (NYSE:CHE) opened at $281.47 on Friday. Chemed Co. has a 1-year low of $178.44 and a 1-year high of $285.79. The stock has a market capitalization of $4,548.84, a P/E ratio of 31.77 and a beta of 1.10. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.17.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Monday, February 26th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, February 23rd. Chemed’s dividend payout ratio is presently 19.28%.
Chemed announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 6th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
A number of brokerages have weighed in on CHE. Oppenheimer boosted their price target on Chemed from $270.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Royal Bank of Canada reissued a “hold” rating and set a $258.00 price target on shares of Chemed in a research report on Friday, February 16th. Finally, ValuEngine downgraded Chemed from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Chemed has an average rating of “Hold” and an average price target of $261.33.
In other news, insider Kevin J. Mcnamara sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $258.00, for a total transaction of $1,548,000.00. Following the completion of the sale, the insider now owns 140,049 shares in the company, valued at $36,132,642. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Naomi C. Dallob sold 1,050 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $257.00, for a total value of $269,850.00. Following the sale, the vice president now owns 6,649 shares of the company’s stock, valued at approximately $1,708,793. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
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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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