Principal Financial Group Inc. Sells 15,547 Shares of Chemed Co. (NYSE:CHE)

Principal Financial Group Inc. cut its stake in Chemed Co. (NYSE:CHE) by 30.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,867 shares of the company’s stock after selling 15,547 shares during the quarter. Principal Financial Group Inc.’s holdings in Chemed were worth $20,954,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. American National Bank & Trust purchased a new stake in shares of Chemed during the third quarter valued at approximately $61,000. GAMMA Investing LLC grew its stake in Chemed by 60.5% in the 3rd quarter. GAMMA Investing LLC now owns 138 shares of the company’s stock valued at $83,000 after purchasing an additional 52 shares during the period. Quarry LP increased its position in shares of Chemed by 721.7% during the 2nd quarter. Quarry LP now owns 189 shares of the company’s stock valued at $103,000 after purchasing an additional 166 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Chemed during the 3rd quarter worth $201,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Chemed by 2,314.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 338 shares of the company’s stock worth $203,000 after buying an additional 324 shares during the last quarter. Institutional investors own 95.85% of the company’s stock.

Insiders Place Their Bets

In other Chemed news, EVP Spencer S. Lee sold 732 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $575.62, for a total transaction of $421,353.84. Following the sale, the executive vice president now owns 18,287 shares in the company, valued at $10,526,362.94. This trade represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $572.77, for a total value of $1,145,540.00. Following the completion of the transaction, the chief executive officer now owns 101,735 shares of the company’s stock, valued at $58,270,755.95. The trade was a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CHE shares. Royal Bank of Canada decreased their price objective on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th.

Chemed Stock Up 0.5 %

Shares of NYSE CHE opened at $519.87 on Thursday. The business has a 50-day simple moving average of $561.08 and a two-hundred day simple moving average of $563.73. Chemed Co. has a 52 week low of $512.12 and a 52 week high of $654.62. The company has a market cap of $7.82 billion, a P/E ratio of 26.27, a P/E/G ratio of 2.32 and a beta of 0.46.

Chemed (NYSE:CHE) last posted its earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.76 by ($0.12). Chemed had a return on equity of 27.86% and a net margin of 12.69%. The firm had revenue of $606.18 million during the quarter, compared to analysts’ expectations of $612.22 million. During the same quarter in the prior year, the company earned $5.32 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Chemed Co. will post 21.43 EPS for the current year.

Chemed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $0.50 per share. The ex-dividend date was Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 0.38%. Chemed’s payout ratio is presently 10.11%.

Chemed Company Profile

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.