PNC Financial Services Group Inc. Lowers Stake in Chemed Co. (NYSE:CHE)

PNC Financial Services Group Inc. lessened its holdings in Chemed Co. (NYSE:CHE) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,842 shares of the company’s stock after selling 196 shares during the period. PNC Financial Services Group Inc.’s holdings in Chemed were worth $1,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CHE. Thrivent Financial for Lutherans increased its position in shares of Chemed by 300.3% in the second quarter. Thrivent Financial for Lutherans now owns 116,572 shares of the company’s stock valued at $63,249,000 after buying an additional 87,449 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Chemed in the 3rd quarter valued at $437,150,000. Impax Asset Management Group plc increased its holdings in Chemed by 19.5% in the 2nd quarter. Impax Asset Management Group plc now owns 317,943 shares of the company’s stock worth $172,510,000 after acquiring an additional 51,974 shares in the last quarter. Epoch Investment Partners Inc. raised its position in Chemed by 22.1% during the second quarter. Epoch Investment Partners Inc. now owns 223,134 shares of the company’s stock worth $121,068,000 after acquiring an additional 40,358 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Chemed by 34.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 154,579 shares of the company’s stock valued at $98,516,000 after purchasing an additional 39,633 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CHE shares. StockNews.com cut shares of Chemed from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Royal Bank of Canada cut their price objective on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th.

Chemed Stock Down 0.4 %

Chemed stock opened at $571.29 on Thursday. The company has a fifty day simple moving average of $578.86 and a 200-day simple moving average of $564.98. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 2.43 and a beta of 0.46. Chemed Co. has a 52-week low of $523.33 and a 52-week high of $654.62.

Chemed (NYSE:CHE) last announced its quarterly earnings data 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 business had revenue of $606.18 million for the quarter, compared to analysts’ expectations of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.32 EPS. On average, research analysts anticipate that Chemed Co. will post 21.43 EPS for the current fiscal year.

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Monday, November 18th. Chemed’s dividend payout ratio (DPR) is currently 10.11%.

Insider Buying and Selling at Chemed

In related news, Director George J. Walsh III sold 400 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $597.47, for a total value of $238,988.00. Following the completion of the transaction, the director now directly owns 3,046 shares in the company, valued at approximately $1,819,893.62. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $569.35, for a total value of $975,296.55. Following the sale, the executive vice president now directly owns 6,109 shares of the company’s stock, valued at approximately $3,478,159.15. This trade represents a 21.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,113 shares of company stock worth $3,557,445 in the last three months. 3.32% of the stock is owned by corporate insiders.

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.