USA Financial Portformulas Corp purchased a new position in Synchrony Financial (NYSE:SYF) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,520 shares of the financial services provider’s stock, valued at approximately $433,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bbva Compass Bancshares Inc. grew its holdings in Synchrony Financial by 0.3% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 32,000 shares of the financial services provider’s stock valued at $954,000 after buying an additional 94 shares during the last quarter. ING Groep NV lifted its stake in shares of Synchrony Financial by 0.4% during the 2nd quarter. ING Groep NV now owns 39,434 shares of the financial services provider’s stock worth $1,176,000 after purchasing an additional 140 shares during the period. Patten Group Inc. lifted its stake in shares of Synchrony Financial by 2.0% during the 1st quarter. Patten Group Inc. now owns 8,435 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 165 shares during the period. Federated Investors Inc. PA raised its position in shares of Synchrony Financial by 0.6% in the 2nd quarter. Federated Investors Inc. PA now owns 26,333 shares of the financial services provider’s stock worth $786,000 after buying an additional 166 shares during the period. Finally, Parsons Capital Management Inc. RI raised its position in shares of Synchrony Financial by 1.2% in the 1st quarter. Parsons Capital Management Inc. RI now owns 25,860 shares of the financial services provider’s stock worth $887,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 87.03% of the company’s stock.
In other news, insider Jonathan S. Mothner sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $33.50, for a total value of $33,500.00. Following the transaction, the insider now owns 113,578 shares in the company, valued at $3,804,863. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is currently owned by company insiders.
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Shares of Synchrony Financial (SYF) traded up 0.21% during mid-day trading on Friday, reaching $32.94. 4,059,277 shares of the company’s stock traded hands. The stock has a market cap of $26.20 billion, a PE ratio of 12.37 and a beta of 1.01. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. The firm has a 50 day moving average price of $30.59 and a 200-day moving average price of $29.89.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the firm earned $0.73 earnings per share. On average, analysts predict that Synchrony Financial will post $2.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 6th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, November 3rd. Synchrony Financial’s dividend payout ratio is 22.90%.
Several brokerages recently issued reports on SYF. Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $35.00 to $32.00 in a report on Friday, September 8th. Bank of America Corporation downgraded Synchrony Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $35.00 to $33.00 in a research note on Friday, October 6th. Keefe, Bruyette & Woods restated a “buy” rating and set a $39.00 target price on shares of Synchrony Financial in a research note on Thursday, October 12th. BMO Capital Markets reiterated a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research note on Friday, August 25th. Finally, BidaskClub upgraded Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Twelve investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average 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.
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