Tokio Marine Asset Management Co. Ltd. Raises Holdings in Chemed Corporation (NYSE:CHE)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in Chemed Corporation by 8.6%, acquiring an additional 1,318 shares during the first quarter, now owning 16,679 shares valued at approximately $10.26 million.
• The company reported a Q2 loss, with earnings per share of $4.27, missing the consensus estimate and indicating a revenue of $618.8 million compared to an expected $650.6 million.
• Chemed recently increased its quarterly dividend from $0.50 to $0.60 per share, reflecting a positive change in shareholder returns and an annualized yield of 0.5%.

Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Chemed Corporation (NYSE:CHE - Free Report) by 8.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,679 shares of the company's stock after buying an additional 1,318 shares during the period. Tokio Marine Asset Management Co. Ltd. owned 0.11% of Chemed worth $10,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Chemed by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 950 shares of the company's stock worth $585,000 after purchasing an additional 118 shares during the period. DAVENPORT & Co LLC acquired a new stake in shares of Chemed during the first quarter valued at about $265,000. Mather Group LLC. grew its stake in shares of Chemed by 53.3% during the first quarter. Mather Group LLC. now owns 161 shares of the company's stock valued at $99,000 after acquiring an additional 56 shares in the last quarter. Park Place Capital Corp grew its stake in shares of Chemed by 71.2% during the first quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock valued at $2,198,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Synergy Asset Management LLC grew its stake in Chemed by 108.4% in the first quarter. Synergy Asset Management LLC now owns 3,049 shares of the company's stock worth $1,876,000 after purchasing an additional 1,586 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Trading Up 0.3%

Shares of NYSE:CHE traded up $1.13 during trading on Friday, hitting $445.00. 177,141 shares of the company were exchanged, compared to its average volume of 192,563. The firm has a fifty day moving average price of $482.43 and a two-hundred day moving average price of $544.53. Chemed Corporation has a fifty-two week low of $408.42 and a fifty-two week high of $623.60. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 2.45 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $4.27 earnings per share for the quarter, missing the consensus estimate of $6.02 by ($1.75). The company had revenue of $618.80 million during the quarter, compared to the consensus estimate of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. Chemed's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.47 earnings per share. As a group, research analysts predict that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

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

Wall Street Analyst Weigh In

CHE has been the topic of a number of recent research reports. Wall Street Zen cut shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Royal Bank Of Canada lowered their price objective on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Chemed in a research report on Friday, July 25th. They set a "hold" rating and a $500.00 price objective on the stock. Oppenheimer decreased their target price on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Bank of America reduced their price objective on shares of Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, June 30th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $579.75.

Insider Buying and Selling at Chemed

In other news, EVP Nicholas Michael Westfall sold 10,012 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $421.91, for a total value of $4,224,162.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George J. Walsh III acquired 200 shares of the company's stock in a transaction on Monday, August 4th. The shares were acquired at an average cost of $417.10 per share, for a total transaction of $83,420.00. Following the completion of the acquisition, the director owned 3,523 shares of the company's stock, valued at approximately $1,469,443.30. The trade was a 6.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.29% of the company's stock.

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.