Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Synchrony Financial (NYSE:SYF) by 16.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 926,830 shares of the financial services provider’s stock after purchasing an additional 129,907 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned 0.12% of Synchrony Financial worth $35,784,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of SYF. Caisse DE Depot ET Placement DU Quebec boosted its position in Synchrony Financial by 2,777.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,109,742 shares of the financial services provider’s stock worth $128,144,000 after acquiring an additional 3,966,900 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in Synchrony Financial by 108.3% during 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 acquiring an additional 2,096,626 shares during the last quarter. Bank of Montreal Can boosted its position in Synchrony Financial by 30.3% during the 4th quarter. Bank of Montreal Can now owns 5,521,901 shares of the financial services provider’s stock worth $213,200,000 after acquiring an additional 1,284,298 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in Synchrony Financial during the 4th quarter worth approximately $35,492,000. Finally, Deutsche Bank AG boosted its position in Synchrony Financial by 32.7% during the 4th quarter. Deutsche Bank AG now owns 3,189,347 shares of the financial services provider’s stock worth $123,136,000 after acquiring an additional 785,783 shares during the last quarter. 88.65% of the stock is owned by institutional investors and hedge funds.
In related news, insider Thomas M. Quindlen sold 10,712 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $36.73, for a total value of $393,451.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Margaret M. Keane sold 13,138 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $36.70, for a total value of $482,164.60. Following the completion of the sale, the insider now owns 440,169 shares in the company, valued at approximately $16,154,202.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,850 shares of company stock worth $955,616. 0.03% of the stock is owned by company insiders.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the business earned $0.70 EPS. analysts forecast that Synchrony Financial will post 3.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Friday, February 2nd. Synchrony Financial’s dividend payout ratio (DPR) is presently 24.90%.
A number of equities analysts have weighed in on the company. Zacks Investment Research downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Jefferies Group upped their price target on Synchrony Financial to $44.00 and gave the stock a “top pick” rating in a research report on Friday, December 1st. Barclays reaffirmed a “buy” rating and set a $43.00 price target on shares of Synchrony Financial in a research 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 raised Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Tuesday, January 9th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Synchrony Financial presently has an average rating of “Buy” and an average target price of $38.11.
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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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