Synchrony Financial (SYF) Position Raised by First Republic Investment Management Inc.

First Republic Investment Management Inc. boosted its position in shares of Synchrony Financial (NYSE:SYF) by 64.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 285,626 shares of the financial services provider’s stock after buying an additional 112,251 shares during the quarter. First Republic Investment Management Inc.’s holdings in Synchrony Financial were worth $9,577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SYF. Rockefeller Capital Management L.P. bought a new stake in Synchrony Financial during the 1st quarter valued at $92,403,000. Amundi Pioneer Asset Management Inc. raised its holdings in Synchrony Financial by 108.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 4,032,094 shares of the financial services provider’s stock worth $155,677,000 after purchasing an additional 2,096,626 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Synchrony Financial by 77.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,905,286 shares of the financial services provider’s stock worth $130,943,000 after purchasing an additional 1,699,021 shares in the last quarter. American Century Companies Inc. raised its holdings in Synchrony Financial by 3,844.2% in the 1st quarter. American Century Companies Inc. now owns 1,045,601 shares of the financial services provider’s stock worth $35,059,000 after purchasing an additional 1,019,091 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in Synchrony Financial in the 4th quarter worth $35,492,000. Institutional investors own 86.74% of the company’s stock.

Shares of SYF stock opened at $35.61 on Monday. Synchrony Financial has a one year low of $26.34 and a one year high of $40.59. The stock has a market cap of $26.88 billion, a P/E ratio of 13.59, a PEG ratio of 1.17 and a beta of 1.13. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.46.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, April 20th. The financial services provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.89 billion. Synchrony Financial had a net margin of 12.36% and a return on equity of 15.60%. During the same period in the prior year, the firm posted $0.61 EPS. analysts forecast that Synchrony Financial will post 3.39 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 17th. Stockholders of record on Monday, May 7th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, May 4th. Synchrony Financial’s payout ratio is presently 22.90%.

Several brokerages have commented on SYF. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a report on Sunday, April 22nd. Morgan Stanley decreased their price objective on shares of Synchrony Financial from $41.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, April 30th. Citigroup assumed coverage on shares of Synchrony Financial in a report on Thursday, April 5th. They issued a “neutral” rating and a $37.00 price objective for the company. Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Wednesday, January 31st. Finally, BMO Capital Markets reduced their target price on shares of Synchrony Financial from $55.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $40.69.

In other news, insider Paul Whynott sold 1,750 shares of the firm’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $33.27, for a total transaction of $58,222.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David P. Melito sold 2,094 shares of the firm’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $35.60, for a total transaction of $74,546.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,143 shares of company stock worth $207,923. Insiders own 0.07% of the company’s stock.

Synchrony Financial Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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

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