Ameriprise Financial Inc. Sells 64,655 Shares of Chemed Corporation $CHE

Key Points

• Ameriprise Financial Inc. has reduced its stake in Chemed Corporation by 27.7%, selling 64,655 shares, and now holds approximately 1.16% of the company worth $103.99 million.
• Chemed has announced a quarterly dividend increase from $0.50 to $0.60, with the annualized dividend now representing a yield of 0.5%.
• Following weak quarterly earnings that missed consensus estimates, several analysts have adjusted their price targets for Chemed, with most rating it as a Moderate Buy.

Ameriprise Financial Inc. decreased its stake in shares of Chemed Corporation (NYSE:CHE - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 168,996 shares of the company's stock after selling 64,655 shares during the period. Ameriprise Financial Inc. owned approximately 1.16% of Chemed worth $103,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHE. Alpine Bank Wealth Management bought a new position in shares of Chemed in the first quarter valued at approximately $29,000. HM Payson & Co. acquired a new stake in Chemed in the first quarter worth approximately $30,000. Whipplewood Advisors LLC lifted its position in Chemed by 54.5% in the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock worth $31,000 after purchasing an additional 18 shares during the period. Versant Capital Management Inc boosted its stake in Chemed by 600.0% during the 1st quarter. Versant Capital Management Inc now owns 98 shares of the company's stock valued at $60,000 after purchasing an additional 84 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Chemed during the 1st quarter valued at $68,000. 95.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Chemed in a report on Friday, July 25th. They issued a "hold" rating and a $500.00 price objective for the company. Bank of America dropped their price target on shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. Oppenheimer reduced their price objective on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their target price on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Finally, Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $579.75.

Insiders Place Their Bets

In other Chemed news, EVP Nicholas Michael Westfall sold 10,012 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $421.91, for a total value of $4,224,162.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George J. Walsh III purchased 200 shares of the business's stock in a transaction dated Monday, August 4th. The shares were purchased at an average cost of $417.10 per share, with a total value of $83,420.00. Following the completion of the purchase, the director directly owned 3,523 shares in the company, valued at approximately $1,469,443.30. This represents a 6.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.29% of the stock is currently owned by company insiders.

Chemed Trading Up 1.5%

NYSE CHE traded up $6.78 during trading on Friday, reaching $458.68. 67,771 shares of the company's stock were exchanged, compared to its average volume of 138,620. Chemed Corporation has a fifty-two week low of $408.42 and a fifty-two week high of $623.60. The company's fifty day simple moving average is $465.00 and its 200-day simple moving average is $538.08. The firm has a market capitalization of $6.68 billion, a PE ratio of 23.59, a P/E/G ratio of 2.51 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $4.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). The company had revenue of $618.80 million during the quarter, compared to analysts' expectations of $650.60 million. Chemed had a return on equity of 25.83% and a net margin of 11.56%.Chemed's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $5.47 earnings per share. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Equities analysts forecast that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 11th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. Chemed's payout ratio is 12.34%.

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.