C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $2.54 Million Position in Chemed Co. (NYSE:CHE)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Chemed Co. (NYSE:CHE) in the fourth quarter, Holdings Channel.com reports. The firm bought 4,794 shares of the company’s stock, valued at approximately $2,540,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in Chemed by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 457 shares of the company’s stock valued at $242,000 after purchasing an additional 22 shares during the period. EP Wealth Advisors LLC boosted its stake in Chemed by 1.9% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,354 shares of the company’s stock valued at $814,000 after purchasing an additional 25 shares during the period. Ballentine Partners LLC boosted its stake in Chemed by 4.1% during the 3rd quarter. Ballentine Partners LLC now owns 655 shares of the company’s stock valued at $394,000 after purchasing an additional 26 shares during the period. First Heartland Consultants Inc. boosted its stake in Chemed by 7.2% during the 3rd quarter. First Heartland Consultants Inc. now owns 508 shares of the company’s stock valued at $305,000 after purchasing an additional 34 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its stake in Chemed by 4.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 887 shares of the company’s stock valued at $533,000 after purchasing an additional 38 shares during the period. 95.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Spencer S. Lee sold 732 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $575.62, for a total transaction of $421,353.84. Following the sale, the executive vice president now owns 18,287 shares in the company, valued at $10,526,362.94. The trade was a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian C. Judkins purchased 145 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $519.50 per share, for a total transaction of $75,327.50. Following the acquisition, the vice president now directly owns 1,678 shares of the company’s stock, valued at $871,721. This trade represents a 9.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CHE shares. Royal Bank of Canada reduced their target price on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th.

Chemed Trading Down 0.7 %

CHE stock opened at $549.97 on Wednesday. Chemed Co. has a 52 week low of $512.12 and a 52 week high of $654.62. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 2.16 and a beta of 0.48. The firm’s 50-day moving average is $542.45 and its two-hundred day moving average is $564.40.

Chemed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Chemed’s payout ratio is currently 10.11%.

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.