Lateef Investment Management L.P. lessened its position in shares of Synchrony Financial (NYSE:SYF) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 845,985 shares of the financial services provider’s stock after selling 95,178 shares during the period. Synchrony Financial comprises 3.1% of Lateef Investment Management L.P.’s portfolio, making the stock its 11th largest position. Lateef Investment Management L.P. owned 0.11% of Synchrony Financial worth $32,663,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in SYF. Raymond James Financial Services Advisors Inc. lifted its holdings in Synchrony Financial by 13.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 466,387 shares of the financial services provider’s stock worth $14,481,000 after buying an additional 56,959 shares during the last quarter. Gabelli Funds LLC lifted its holdings in Synchrony Financial by 39.4% during the 3rd quarter. Gabelli Funds LLC now owns 141,434 shares of the financial services provider’s stock worth $4,392,000 after buying an additional 40,000 shares during the last quarter. American Century Companies Inc. lifted its holdings in Synchrony Financial by 40.2% during the 3rd quarter. American Century Companies Inc. now owns 34,595 shares of the financial services provider’s stock worth $1,074,000 after buying an additional 9,926 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Synchrony Financial by 57.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,879,209 shares of the financial services provider’s stock worth $58,349,000 after buying an additional 684,049 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in Synchrony Financial by 368.9% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 238,122 shares of the financial services provider’s stock worth $7,394,000 after buying an additional 187,337 shares during the last quarter. 88.65% of the stock is currently owned by institutional investors.
In related news, insider Margaret M. Keane sold 13,138 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $36.70, for a total value of $482,164.60. Following the sale, the insider now directly owns 440,169 shares in the company, valued at approximately $16,154,202.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas M. Quindlen sold 10,712 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $36.73, for a total value of $393,451.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,850 shares of company stock worth $955,616. 0.03% of the stock is owned by insiders.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the firm earned $0.70 EPS. research analysts predict that Synchrony Financial will post 3.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Friday, February 2nd. Synchrony Financial’s dividend payout ratio is currently 24.90%.
A number of research analysts have commented on the company. Zacks Investment Research downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Jefferies Group increased their target price on Synchrony Financial to $44.00 and gave the stock a “top pick” rating in a report on Friday, December 1st. Barclays reaffirmed a “buy” rating and set a $43.00 target price on shares of Synchrony Financial in a report on Tuesday, November 21st. Wedbush set a $41.00 price target on Synchrony Financial and gave the stock a “hold” rating in a research report on Monday, December 11th. Finally, Wells Fargo & Co upgraded Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research report on Tuesday, January 9th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Synchrony Financial currently has a consensus rating of “Buy” and an average target price of $38.11.
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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