Advisor Group Inc. Purchases 257 Shares of Chemed Co. (CHE)
Advisor Group Inc. boosted its position in Chemed Co. (NYSE:CHE) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,658 shares of the company’s stock after buying an additional 257 shares during the period. Advisor Group Inc.’s holdings in Chemed were worth $1,132,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sei Investments Co. boosted its position in Chemed by 56.0% in the 4th quarter. Sei Investments Co. now owns 26,386 shares of the company’s stock worth $6,413,000 after purchasing an additional 9,473 shares in the last quarter. Aperio Group LLC boosted its position in Chemed by 1.4% in the 4th quarter. Aperio Group LLC now owns 15,256 shares of the company’s stock worth $3,708,000 after purchasing an additional 205 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in Chemed in the 4th quarter worth approximately $1,094,000. Pinebridge Investments L.P. boosted its position in Chemed by 117.0% in the 3rd quarter. Pinebridge Investments L.P. now owns 7,689 shares of the company’s stock worth $1,554,000 after purchasing an additional 4,145 shares in the last quarter. Finally, American International Group Inc. boosted its position in Chemed by 5.6% in the 3rd quarter. American International Group Inc. now owns 12,491 shares of the company’s stock worth $2,524,000 after purchasing an additional 664 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.
Shares of Chemed Co. (NYSE CHE) opened at $276.46 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.88. Chemed Co. has a 52-week low of $178.44 and a 52-week high of $285.79. The company has a market capitalization of $4,513.19, a P/E ratio of 47.58 and a beta of 1.10.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Monday, February 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s payout ratio is 19.28%.
Chemed declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 6th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Several research firms have commented on CHE. Oppenheimer upped their price objective 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 restated a “hold” rating and issued a $258.00 price objective on shares of Chemed in a research report on Friday, February 16th. Finally, ValuEngine lowered Chemed from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $261.33.
In other news, insider Kevin J. Mcnamara sold 6,000 shares of the company’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 transaction, the insider now directly owns 140,049 shares of the company’s stock, valued at approximately $36,132,642. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Naomi C. Dallob sold 1,050 shares of the company’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 transaction, the vice president now directly owns 6,649 shares of the company’s stock, valued at $1,708,793. The disclosure for this sale can be found here. 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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