Lingohr & Partner Asset Management GmbH acquired a new position in shares of Synchrony Financial (NYSE:SYF) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 47,316 shares of the financial services provider’s stock, valued at approximately $1,543,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Berkshire Hathaway Inc. acquired a new stake in Synchrony Financial in the 2nd quarter valued at $520,747,000. Raymond James Financial Services Advisors Inc. grew its stake in Synchrony Financial by 15.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 409,428 shares of the financial services provider’s stock valued at $12,209,000 after acquiring an additional 55,662 shares during the period. Janus Henderson Group PLC grew its stake in Synchrony Financial by 1,820.5% in the 2nd 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. Amalgamated Bank grew its stake in Synchrony Financial by 57.1% in the 2nd quarter. Amalgamated Bank now owns 91,027 shares of the financial services provider’s stock valued at $2,714,000 after acquiring an additional 33,101 shares during the period. Finally, Pinebridge Investments L.P. grew its stake in Synchrony Financial by 2,700.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 219,057 shares of the financial services provider’s stock valued at $6,532,000 after acquiring an additional 211,236 shares during the period. 88.60% of the stock is currently owned by institutional investors and hedge funds.
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A number of brokerages have weighed in on SYF. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Synchrony Financial in a report on Tuesday, October 31st. BidaskClub lowered Synchrony Financial from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. TheStreet upgraded Synchrony Financial from a “c” rating to a “b” rating in a report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a report on Thursday, September 21st. Finally, Morgan Stanley restated an “overweight” rating and issued a $35.00 price objective (up previously from $33.00) on shares of Synchrony Financial in a report on Tuesday, July 25th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $36.77.
Synchrony Financial (SYF) traded down $0.02 during midday trading on Friday, hitting $32.07. The stock had a trading volume of 2,669,600 shares, compared to its average volume of 6,076,449. The stock has a market cap of $25,097.72, a price-to-earnings ratio of 12.24, a PEG ratio of 1.32 and a beta of 1.02. Synchrony Financial has a fifty-two week low of $26.01 and a fifty-two week high of $38.06. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.47 and a current ratio of 1.47.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.06. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.78 billion. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. During the same period in the previous year, the firm earned $0.73 EPS. equities research analysts expect that Synchrony Financial will post 2.6 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 6th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.60 annualized dividend and a yield of 1.87%. Synchrony Financial’s dividend payout ratio (DPR) is currently 22.90%.
In related news, insider Jonathan S. Mothner sold 1,500 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $32.82, for a total value of $49,230.00. Following the sale, the insider now directly owns 113,934 shares in the company, valued at approximately $3,739,313.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Mothner sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 113,578 shares in the company, valued at $3,804,863. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.
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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