Norges Bank Invests $95.87 Million in Chemed Co. (NYSE:CHE)

Norges Bank purchased a new position in Chemed Co. (NYSE:CHE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 180,958 shares of the company's stock, valued at approximately $95,872,000. Norges Bank owned 1.20% of Chemed at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CHE. Raymond James Financial Inc. bought a new position in shares of Chemed during the fourth quarter worth $42,023,000. HighTower Advisors LLC boosted its holdings in shares of Chemed by 78.0% during the 3rd quarter. HighTower Advisors LLC now owns 3,730 shares of the company's stock valued at $2,246,000 after purchasing an additional 1,634 shares during the last quarter. XTX Topco Ltd grew its position in shares of Chemed by 111.5% during the third quarter. XTX Topco Ltd now owns 2,843 shares of the company's stock valued at $1,709,000 after purchasing an additional 1,499 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Chemed by 4.9% in the third quarter. Geode Capital Management LLC now owns 335,443 shares of the company's stock worth $201,820,000 after purchasing an additional 15,791 shares during the last quarter. Finally, Signal Advisors Wealth LLC boosted its stake in Chemed by 60.7% during the fourth quarter. Signal Advisors Wealth LLC now owns 4,995 shares of the company's stock valued at $2,647,000 after buying an additional 1,886 shares during the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHE. Royal Bank of Canada lifted their price objective on Chemed from $633.00 to $667.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. StockNews.com raised shares of Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th.

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Insider Buying and Selling

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

Chemed Stock Down 3.4 %

CHE traded down $21.05 on Friday, hitting $598.17. The company had a trading volume of 129,318 shares, compared to its average volume of 95,734. Chemed Co. has a 12-month low of $512.12 and a 12-month high of $632.22. The business's fifty day simple moving average is $580.24 and its 200 day simple moving average is $567.98. The company has a market cap of $8.76 billion, a PE ratio of 30.23, a PEG ratio of 2.15 and a beta of 0.49.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.00 annualized dividend and a yield of 0.33%. Chemed's payout ratio is presently 10.05%.

About Chemed

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.