Synovus Financial Corp Takes Position in Chemed Co. (NYSE:CHE)

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. boosted its position in shares of Chemed by 300.0% during the 4th quarter. UMB Bank n.a. now owns 52 shares of the company’s stock worth $28,000 after purchasing an additional 39 shares in the last quarter. Atala Financial Inc acquired a new stake in shares of Chemed in the fourth quarter valued at about $29,000. CBIZ Investment Advisory Services LLC boosted its holdings in Chemed by 64.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company’s stock worth $30,000 after buying an additional 22 shares in the last quarter. Trust Co. of Vermont acquired a new position in Chemed during the fourth quarter worth about $34,000. Finally, Tortoise Investment Management LLC increased its holdings in Chemed by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company’s stock valued at $41,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Chemed

In other news, CEO Kevin J. Mcnamara sold 1,000 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $615.33, for a total value of $615,330.00. Following the completion of the transaction, the chief executive officer now directly owns 101,679 shares of the company’s stock, valued at $62,566,139.07. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.32% of the stock is owned by corporate insiders.

Chemed Trading Down 1.1 %

NYSE:CHE opened at $582.34 on Thursday. Chemed Co. has a twelve month low of $512.12 and a twelve month high of $623.61. The company has a market capitalization of $8.51 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 2.15 and a beta of 0.49. The firm has a 50-day moving average price of $585.24 and a two-hundred day moving average price of $567.97.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, February 24th. Chemed’s payout ratio is currently 10.05%.

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.