Forsta AP Fonden purchased a new position in Synchrony Financial (NYSE:SYF) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 54,100 shares of the financial services provider’s stock, valued at approximately $870,000.
Other large investors also recently modified their holdings of the company. TRUE Private Wealth Advisors bought a new stake in shares of Synchrony Financial in the fourth quarter worth $25,000. Coastal Investment Advisors Inc. increased its stake in shares of Synchrony Financial by 646.0% in the fourth quarter. Coastal Investment Advisors Inc. now owns 746 shares of the financial services provider’s stock worth $28,000 after buying an additional 646 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of Synchrony Financial in the fourth quarter worth $30,000. Duncker Streett & Co. Inc. bought a new stake in Synchrony Financial during the fourth quarter valued at $32,000. Finally, Savior LLC bought a new stake in Synchrony Financial during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 88.47% of the company’s stock.
In other Synchrony Financial news, Director Laurel Richie purchased 1,600 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was bought at an average cost of $16.20 per share, with a total value of $25,920.00. Following the acquisition, the director now owns 22,911 shares of the company’s stock, valued at $371,158.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Will W. Graylin sold 7,500 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $16.68, for a total transaction of $125,100.00. Following the completion of the sale, the director now directly owns 64,811 shares of the company’s stock, valued at $1,081,047.48. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.64. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.98 billion. Synchrony Financial had a net margin of 15.58% and a return on equity of 18.25%. During the same quarter in the prior year, the company posted $1.00 earnings per share. Equities analysts anticipate that Synchrony Financial will post 1.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 4th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Friday, May 1st. Synchrony Financial’s payout ratio is currently 20.51%.
Several analysts have weighed in on SYF shares. Royal Bank of Canada reiterated a “buy” rating and set a $20.00 target price on shares of Synchrony Financial in a research note on Wednesday, April 22nd. Cfra lowered shares of Synchrony Financial from a “sell” rating to a “strong sell” rating and lowered their target price for the company from $28.00 to $11.00 in a research note on Friday, April 3rd. ValuEngine upgraded shares of Synchrony Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Morgan Stanley lowered their target price on shares of Synchrony Financial from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Co lowered their target price on shares of Synchrony Financial from $40.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.62.
Synchrony Financial Company 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.
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