Principal Financial Group Inc. Sells 2,637 Shares of Chemed Corporation (NYSE:CHE)

Principal Financial Group Inc. cut its holdings in Chemed Corporation (NYSE:CHE - Free Report) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,021 shares of the company's stock after selling 2,637 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of Chemed worth $44,316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atala Financial Inc acquired a new stake in shares of Chemed in the fourth quarter valued at $29,000. Alpine Bank Wealth Management acquired a new stake in Chemed in the first quarter worth about $29,000. CBIZ Investment Advisory Services LLC increased its position in Chemed by 64.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company's stock worth $30,000 after purchasing an additional 22 shares during the period. Whipplewood Advisors LLC increased 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. Finally, Tortoise Investment Management LLC increased its position in Chemed by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company's stock worth $41,000 after purchasing an additional 34 shares during the period. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Spencer S. Lee sold 1,500 shares of Chemed stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $577.99, for a total transaction of $866,985.00. Following the transaction, the executive vice president owned 14,627 shares in the company, valued at $8,454,259.73. The trade was a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $576.45, for a total transaction of $864,675.00. Following the transaction, the chief executive officer owned 101,197 shares of the company's stock, valued at $58,335,010.65. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,500 shares of company stock worth $2,598,450 in the last quarter. 3.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Bank of America lowered their price objective on Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, June 30th. Wall Street Zen lowered Chemed from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $640.00 price objective (down from $674.00) on shares of Chemed in a research report on Monday, June 30th.

Chemed Price Performance

Shares of Chemed stock traded up $6.28 during trading on Wednesday, hitting $472.18. 172,318 shares of the company were exchanged, compared to its average volume of 112,125. The firm has a market capitalization of $6.91 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 2.24 and a beta of 0.50. Chemed Corporation has a 1-year low of $457.44 and a 1-year high of $623.61. The firm's fifty day moving average price is $549.12 and its 200 day moving average price is $561.45.

Chemed (NYSE:CHE - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.04. The company had revenue of $646.94 million during the quarter, compared to analyst estimates of $641.78 million. Chemed had a return on equity of 27.58% and a net margin of 12.40%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.20 EPS. As a group, equities research analysts anticipate that Chemed Corporation will post 21.43 earnings per share for the current year.

Chemed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Thursday, May 29th. Chemed's dividend payout ratio (DPR) is presently 9.74%.

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.