Synovus Financial Corp Invests $654,000 in Chemed Co. (NYSE:CHE)

Synovus Financial Corp purchased a new stake in Chemed Co. (NYSE:CHE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,235 shares of the company’s stock, valued at approximately $654,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its holdings in shares of Chemed by 300.0% in the 4th 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 acquired a new stake in Chemed during the 4th quarter worth $29,000. CBIZ Investment Advisory Services LLC lifted its position in Chemed by 64.7% in the fourth 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 during the last quarter. Trust Co. of Vermont acquired a new position in Chemed in the fourth quarter valued at $34,000. Finally, Tortoise Investment Management LLC grew its holdings in shares of Chemed by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company’s stock worth $41,000 after purchasing an additional 34 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 102,679 shares of the company’s stock, valued at approximately $60,957,441.93. The trade was a 1.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.32% of the stock is owned by insiders.

Chemed Stock Performance

NYSE CHE opened at $582.34 on Thursday. The firm’s fifty day moving average is $585.24 and its two-hundred day moving average is $567.97. Chemed Co. has a one year low of $512.12 and a one year high of $623.61. The firm has a market cap of $8.51 billion, a PE ratio of 29.43, a P/E/G ratio of 2.15 and a beta of 0.49.

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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, February 24th. Chemed’s dividend payout ratio is presently 10.05%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Chemed from $633.00 to $667.00 and gave the company an “outperform” rating in a report on Friday, March 14th. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

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.