Corebridge Financial Inc. Cuts Position in Chemed Co. (NYSE:CHE)

Corebridge Financial Inc. lessened its stake in Chemed Co. (NYSE:CHE - Free Report) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,971 shares of the company's stock after selling 843 shares during the period. Corebridge Financial Inc. owned 0.11% of Chemed worth $8,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Chemed in the 4th quarter valued at about $42,023,000. FMR LLC increased its position in Chemed by 23.8% during the third quarter. FMR LLC now owns 238,616 shares of the company's stock worth $143,401,000 after buying an additional 45,917 shares during the period. Principal Financial Group Inc. lifted its stake in Chemed by 114.1% in the fourth quarter. Principal Financial Group Inc. now owns 74,658 shares of the company's stock valued at $39,554,000 after buying an additional 39,791 shares during the last quarter. Aureus Asset Management LLC boosted its holdings in shares of Chemed by 3,147.2% in the third quarter. Aureus Asset Management LLC now owns 29,939 shares of the company's stock valued at $17,993,000 after acquiring an additional 29,017 shares during the period. Finally, Boston Trust Walden Corp grew its position in shares of Chemed by 10.0% during the fourth quarter. Boston Trust Walden Corp now owns 242,172 shares of the company's stock worth $128,303,000 after acquiring an additional 22,105 shares during the last quarter. Hedge funds and other institutional investors own 95.85% of the company's stock.

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Chemed Price Performance

Shares of CHE stock traded up $2.82 during midday trading on Tuesday, hitting $618.14. The company had a trading volume of 260,403 shares, compared to its average volume of 94,493. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.15 and a beta of 0.43. The company's 50 day simple moving average is $576.54 and its 200 day simple moving average is $567.29. Chemed Co. has a 52-week low of $512.12 and a 52-week high of $639.61.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were given a $0.50 dividend. The ex-dividend date was Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Chemed's dividend payout ratio (DPR) is 10.05%.

Insider Buying and Selling at Chemed

In other news, CEO Kevin J. Mcnamara sold 1,000 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $615.33, for a total transaction of $615,330.00. Following the transaction, the chief executive officer now directly owns 101,679 shares in the company, valued at $62,566,139.07. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CHE shares. Royal Bank of Canada upped their price target on shares of Chemed from $633.00 to $667.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. StockNews.com raised shares of Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th.

Chemed 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.