Midas Management Corp Takes $2.02 Million Position in Synchrony Financial (NYSE:SYF) – Dispatch Tribunal


Midas Management Corp acquired a new stake in Synchrony Financial (NYSE:SYF) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 65,000 shares of the financial services provider’s stock, valued at approximately $2,018,000.

Other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. boosted its stake in shares of Synchrony Financial by 32.1% in the 2nd quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 867 shares in the last quarter. First Quadrant L P CA boosted its position in Synchrony Financial by 55.4% during the 2nd quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after buying an additional 1,328 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Synchrony Financial by 39.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,280 shares during the period. State of Alaska Department of Revenue boosted its position in Synchrony Financial by 19.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock valued at $159,000 after buying an additional 880 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Synchrony Financial by 9.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after buying an additional 486 shares during the period. 87.03% of the stock is owned by institutional investors.

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In other Synchrony Financial news, insider Jonathan S. Mothner sold 1,000 shares of Synchrony Financial stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $33.50, for a total transaction of $33,500.00. Following the transaction, the insider now owns 113,578 shares of the company’s stock, valued at $3,804,863. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.03% of the company’s stock.

Synchrony Financial (NYSE SYF) traded up 0.21% during mid-day trading on Friday, reaching $32.94. 4,059,277 shares of the company’s stock were exchanged. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06. The company’s 50-day moving average is $30.78 and its 200 day moving average is $29.91. The firm has a market capitalization of $26.20 billion, a P/E ratio of 12.37 and a beta of 1.01.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.64 by $0.06. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.78 billion. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. During the same quarter in the previous year, the company posted $0.73 earnings per share. Equities analysts predict that Synchrony Financial will post $2.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, November 3rd. Synchrony Financial’s dividend payout ratio (DPR) is 22.90%.

SYF has been the subject of several analyst reports. TheStreet raised shares of Synchrony Financial from a “c” rating to a “b” rating in a research report on Monday, July 31st. BMO Capital Markets reissued a “buy” rating on shares of Synchrony Financial in a research report on Friday, July 21st. Jefferies Group LLC reissued a “buy” rating and set a $40.00 price target on shares of Synchrony Financial in a research report on Friday, July 14th. Instinet reissued a “buy” rating and set a $35.00 price target (down previously from $38.00) on shares of Synchrony Financial in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $39.00 price target on shares of Synchrony Financial in a research report on Thursday, October 12th. Twelve investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.63.

Synchrony Financial Profile

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)




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