Raymond James Financial Inc. Makes New $42.02 Million Investment in Chemed Co. (NYSE:CHE)

Raymond James Financial Inc. acquired a new position in Chemed Co. (NYSE:CHE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 79,318 shares of the company's stock, valued at approximately $42,023,000. Raymond James Financial Inc. owned about 0.53% of Chemed at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aigen Investment Management LP lifted its position in Chemed by 300.4% in the fourth 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 period. M&T Bank Corp lifted its position in Chemed by 14.4% in the fourth quarter. M&T Bank Corp now owns 964 shares of the company's stock worth $511,000 after purchasing an additional 121 shares during the period. Charles Schwab Investment Management Inc. lifted 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 worth $72,149,000 after purchasing an additional 13,394 shares during the period. SRS Capital Advisors Inc. lifted its position in Chemed by 39.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 135 shares of the company's stock worth $72,000 after purchasing an additional 38 shares during the period. Finally, US Bancorp DE lifted its position in Chemed by 1.9% in the fourth quarter. US Bancorp DE now owns 4,129 shares of the company's stock worth $2,187,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 95.85% of the company's stock.

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Chemed Stock Performance

Shares of NYSE CHE traded up $8.19 during midday trading on Friday, reaching $598.15. 92,073 shares of the company traded hands, compared to its average volume of 101,073. The firm has a market cap of $8.76 billion, a PE ratio of 30.22, a PEG ratio of 2.15 and a beta of 0.43. The stock's 50-day simple moving average is $560.28 and its 200-day simple moving average is $564.79. Chemed Co. has a 12 month low of $512.12 and a 12 month high of $654.62.

Chemed Dividend Announcement

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

Insider Buying and Selling at Chemed

In other Chemed news, VP Brian C. Judkins purchased 145 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average cost of $519.50 per share, with a total value of $75,327.50. Following the completion of the acquisition, the vice president now directly owns 1,678 shares of the company's stock, valued at $871,721. This represents a 9.46 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.32% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.