Allianz Asset Management GmbH Boosts Stock Position in Chemed Corporation $CHE

Allianz Asset Management GmbH raised its stake in shares of Chemed Corporation (NYSE:CHE) by 145.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,541 shares of the company’s stock after acquiring an additional 9,215 shares during the period. Allianz Asset Management GmbH’s holdings in Chemed were worth $7,567,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in shares of Chemed by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 950 shares of the company’s stock worth $585,000 after buying an additional 118 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in shares of Chemed during the 1st quarter worth approximately $265,000. Jump Financial LLC purchased a new position in shares of Chemed during the 1st quarter worth approximately $2,777,000. Mather Group LLC. raised its stake in shares of Chemed by 53.3% during the 1st quarter. Mather Group LLC. now owns 161 shares of the company’s stock worth $99,000 after buying an additional 56 shares in the last quarter. Finally, Park Place Capital Corp raised its stake in shares of Chemed by 71.2% during the 1st quarter. Park Place Capital Corp now owns 3,572 shares of the company’s stock worth $2,198,000 after buying an additional 1,486 shares in the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CHE shares. Wall Street Zen downgraded Chemed from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Jefferies Financial Group raised Chemed from a “hold” rating to a “buy” rating and increased their target price for the stock from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Chemed in a research note on Wednesday, October 8th. Bank of America lowered their price target on Chemed from $610.00 to $595.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Finally, Royal Bank Of Canada lowered their price target on Chemed from $640.00 to $589.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $578.50.

Chemed Price Performance

CHE opened at $441.75 on Wednesday. The stock’s 50 day simple moving average is $449.11 and its 200 day simple moving average is $501.36. The stock has a market cap of $6.44 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.59 and a beta of 0.43. Chemed Corporation has a 1-year low of $408.42 and a 1-year high of $623.60.

Chemed (NYSE:CHE) last announced its earnings results on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing analysts’ consensus estimates of $6.02 by ($1.75). The company had revenue of $618.80 million for the quarter, compared to analyst estimates of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. Chemed’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $5.47 EPS. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Research analysts expect that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were issued a dividend of $0.60 per share. This is a boost from Chemed’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, August 11th. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. Chemed’s payout ratio is currently 12.34%.

Insider Buying and Selling

In other Chemed news, EVP Nicholas Michael Westfall sold 10,012 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $421.91, for a total transaction of $4,224,162.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director George J. Walsh III bought 200 shares of the stock in a transaction on Monday, August 4th. The shares were bought at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the acquisition, the director owned 3,523 shares in the company, valued at $1,469,443.30. The trade was a 6.02% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 13,162 shares of company stock worth $5,677,511 in the last 90 days. Corporate insiders own 3.29% of the company’s stock.

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.