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

Synovus Financial Corp bought a new stake in shares of Chemed Co. (NYSE:CHE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,235 shares of the company's stock, valued at approximately $654,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brogan Financial Inc. bought a new position in shares of Chemed in the fourth quarter worth approximately $210,000. Sterling Capital Management LLC grew its position in Chemed by 53.6% in the fourth quarter. Sterling Capital Management LLC now owns 822 shares of the company's stock worth $435,000 after acquiring an additional 287 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in Chemed by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 6,526 shares of the company's stock worth $3,457,000 after acquiring an additional 40 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in Chemed by 1.2% during the 4th quarter. Neuberger Berman Group LLC now owns 501,562 shares of the company's stock valued at $265,726,000 after buying an additional 5,809 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Chemed by 16.2% in the fourth quarter. Bessemer Group Inc. now owns 832 shares of the company's stock valued at $440,000 after acquiring an additional 116 shares during the period. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chemed

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $593.67, for a total transaction 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 $60,957,441.93. This represents a 1.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.32% of the company's stock.

Chemed Trading Up 2.9 %

Shares of NYSE:CHE traded up $16.47 on Tuesday, reaching $580.09. The company had a trading volume of 151,082 shares, compared to its average volume of 98,280. Chemed Co. has a 52-week low of $512.12 and a 52-week high of $623.61. The firm's 50 day simple moving average is $586.98 and its 200-day simple moving average is $567.41. The firm has a market capitalization of $8.48 billion, a PE ratio of 29.31, a PEG ratio of 2.15 and a beta of 0.49.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, February 24th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Chemed's dividend payout ratio (DPR) is presently 10.05%.

Analyst Ratings Changes

Several research analysts have issued reports on CHE shares. StockNews.com upgraded Chemed from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Royal Bank of Canada increased their price objective on Chemed from $633.00 to $667.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th.

Chemed Company 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.