Wealth Enhancement Advisory Services LLC purchased a new position in shares of Synchrony Financial (NYSE:SYF) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 41,691 shares of the financial services provider’s stock, valued at approximately $1,305,000.
Several other hedge funds and other institutional investors also recently modified their holdings of SYF. BlackRock Inc. lifted its holdings in shares of Synchrony Financial by 2,275.1% during the first quarter. BlackRock Inc. now owns 48,272,035 shares of the financial services provider’s stock worth $1,655,730,000 after purchasing an additional 46,239,640 shares during the period. Berkshire Hathaway Inc. acquired a new stake in Synchrony Financial in the second quarter valued at $520,747,000. Janus Henderson Group PLC lifted its holdings in Synchrony Financial by 1,820.5% in the second quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock valued at $326,070,000 after acquiring an additional 10,365,219 shares during the period. FMR LLC lifted its holdings in Synchrony Financial by 27.1% in the second quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after acquiring an additional 7,874,689 shares during the period. Finally, Capital World Investors acquired a new stake in Synchrony Financial in the second quarter valued at $202,269,000. 87.03% of the stock is owned by hedge funds and other institutional investors.
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A number of analysts recently commented on SYF shares. BidaskClub cut Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $39.00 price objective on shares of Synchrony Financial in a research report on Thursday, October 12th. BMO Capital Markets reissued a “buy” rating on shares of Synchrony Financial in a research note on Friday, July 21st. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research note on Thursday, September 21st. Finally, Wells Fargo & Company began coverage on Synchrony Financial in a research note on Tuesday, October 10th. They issued a “market perform” rating and a $33.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $36.63.
Shares of Synchrony Financial (NYSE:SYF) traded up 0.21% on Friday, reaching $32.94. The company had a trading volume of 4,059,277 shares. The firm has a market capitalization of $25.78 billion, a PE ratio of 12.38 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 company’s 50-day moving average is $30.78 and its 200 day moving average is $29.91.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the business earned $0.73 earnings per share. Equities analysts forecast that Synchrony Financial will post $2.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 3rd. This represents a $0.60 annualized dividend and a dividend yield of 1.82%. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.90%.
In other news, insider Jonathan S. Mothner sold 1,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $33.50, for a total transaction of $33,500.00. Following the completion of the transaction, the insider now directly 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 this link. 0.03% of the stock is currently owned by corporate insiders.
Synchrony Financial Company 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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