Atlantic Union Bankshares Corp Trims Stock Position in Chemed Co. (NYSE:CHE)

Atlantic Union Bankshares Corp lessened its stake in Chemed Co. (NYSE:CHE - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,227 shares of the company's stock after selling 733 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Chemed were worth $1,180,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Chemed in the fourth quarter valued at about $42,023,000. Aigen Investment Management LP increased its position in shares of Chemed by 300.4% during the 4th quarter. Aigen Investment Management LP now owns 2,002 shares of the company's stock worth $1,061,000 after purchasing an additional 1,502 shares during the last quarter. M&T Bank Corp increased its position in shares of Chemed by 14.4% during the fourth quarter. M&T Bank Corp now owns 964 shares of the company's stock valued at $511,000 after acquiring an additional 121 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Chemed by 10.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 136,182 shares of the company's stock valued at $72,149,000 after purchasing an additional 13,394 shares during the period. Finally, SRS Capital Advisors Inc. lifted its stake in Chemed by 39.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 135 shares of the company's stock worth $72,000 after acquiring an additional 38 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $593.67, for a total value of $1,187,340.00. Following the sale, the chief executive officer now directly owns 102,679 shares of the company's stock, valued at approximately $60,957,441.93. This represents a 1.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brian C. Judkins acquired 145 shares of Chemed stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of $519.50 per share, for a total transaction of $75,327.50. Following the completion of the acquisition, the vice president now directly owns 1,678 shares in the company, valued at approximately $871,721. This represents a 9.46 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.32% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Chemed from a "hold" rating to a "buy" rating in a research report on Friday, March 7th.

Chemed Stock Down 1.6 %

Chemed stock traded down $9.78 during mid-day trading on Wednesday, reaching $588.73. 101,112 shares of the company's stock were exchanged, compared to its average volume of 101,851. Chemed Co. has a twelve month low of $512.12 and a twelve month high of $654.62. The company has a market cap of $8.62 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.15 and a beta of 0.43. The company has a fifty day moving average of $556.60 and a 200-day moving average of $564.27.

Chemed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Monday, February 24th. Chemed's dividend payout ratio is presently 10.05%.

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.