Principal Financial Group Inc. Has $20.95 Million Stake in Chemed Co. (NYSE:CHE)

Principal Financial Group Inc. lowered its stake in shares of Chemed Co. (NYSE:CHE) by 30.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,867 shares of the company’s stock after selling 15,547 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Chemed worth $20,954,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of Chemed by 21.3% in the third quarter. Franklin Resources Inc. now owns 8,800 shares of the company’s stock worth $5,282,000 after purchasing an additional 1,544 shares during the period. Second Line Capital LLC increased its holdings in Chemed by 17.1% in the 3rd quarter. Second Line Capital LLC now owns 4,597 shares of the company’s stock valued at $2,763,000 after buying an additional 672 shares during the period. Geode Capital Management LLC raised its position in shares of Chemed by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 335,443 shares of the company’s stock valued at $201,820,000 after buying an additional 15,791 shares in the last quarter. Vestcor Inc raised its position in shares of Chemed by 35.4% in the 3rd quarter. Vestcor Inc now owns 4,351 shares of the company’s stock valued at $2,615,000 after buying an additional 1,138 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank boosted its position in shares of Chemed by 2.6% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 6,439 shares of the company’s stock worth $3,870,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 95.85% of the company’s stock.

Insider Buying and Selling at Chemed

In other Chemed news, EVP Spencer S. Lee sold 732 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $575.62, for a total value of $421,353.84. Following the completion of the sale, the executive vice president now directly owns 18,287 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $572.77, for a total transaction of $1,145,540.00. Following the transaction, the chief executive officer now owns 101,735 shares in the company, valued at $58,270,755.95. This represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

CHE has been the topic of a number of research analyst reports. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Royal Bank of Canada decreased their target price on Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

Chemed Trading Up 0.5 %

NYSE:CHE opened at $519.87 on Thursday. The stock’s 50-day moving average is $561.08 and its 200-day moving average is $563.73. The stock has a market cap of $7.82 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 2.32 and a beta of 0.46. Chemed Co. has a 1-year low of $512.12 and a 1-year high of $654.62.

Chemed (NYSE:CHE) last announced 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). The company had revenue of $606.18 million for the quarter, compared to the consensus estimate of $612.22 million. Chemed had a return on equity of 27.86% and a net margin of 12.69%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.32 earnings per share. As a group, equities analysts forecast that Chemed Co. will post 21.43 EPS for the current year.

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 0.38%. Chemed’s payout ratio is 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.