Pictet Asset Management Holding SA Trims Stock Holdings in Chemed Co. (NYSE:CHE)

Pictet Asset Management Holding SA trimmed its position in Chemed Co. (NYSE:CHE - Free Report) by 24.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,541 shares of the company's stock after selling 9,330 shares during the period. Pictet Asset Management Holding SA owned approximately 0.20% of Chemed worth $15,651,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in shares of Chemed by 300.0% in the fourth quarter. UMB Bank n.a. now owns 52 shares of the company's stock valued at $28,000 after buying an additional 39 shares in the last quarter. Atala Financial Inc bought a new position in Chemed in the 4th quarter valued at about $29,000. CBIZ Investment Advisory Services LLC lifted its position in Chemed by 64.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company's stock valued at $30,000 after acquiring an additional 22 shares in the last quarter. Trust Co. of Vermont acquired a new position in Chemed during the 4th quarter valued at about $34,000. Finally, Tortoise Investment Management LLC increased its holdings in Chemed by 77.3% during the 4th quarter. Tortoise Investment Management LLC now owns 78 shares of the company's stock worth $41,000 after purchasing an additional 34 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $1,187,340.00. Following the completion of the transaction, the chief executive officer now directly owns 102,679 shares of the company's stock, valued at $60,957,441.93. This represents a 1.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.32% of the company's stock.

Analyst Ratings Changes

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

Chemed Stock Performance

Shares of Chemed stock traded down $21.05 during mid-day trading on Friday, hitting $598.17. 129,318 shares of the stock were exchanged, compared to its average volume of 95,734. The company has a market capitalization of $8.76 billion, a P/E ratio of 30.23, a P/E/G ratio of 2.15 and a beta of 0.49. The company has a 50-day simple moving average of $580.24 and a 200 day simple moving average of $567.98. Chemed Co. has a 12 month low of $512.12 and a 12 month high of $632.22.

Chemed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. Chemed's dividend payout ratio (DPR) 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.