Earnest Partners LLC cut its holdings in shares of Synchrony Financial (NYSE:SYF) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,014,355 shares of the financial services provider’s stock after selling 21,436 shares during the period. Earnest Partners LLC owned about 0.13% of Synchrony Financial worth $39,164,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbour Capital Advisors LLC boosted its position in Synchrony Financial by 4.5% in the 4th quarter. Harbour Capital Advisors LLC now owns 32,630 shares of the financial services provider’s stock valued at $1,260,000 after buying an additional 1,405 shares during the last quarter. BB&T Corp boosted its position in Synchrony Financial by 4.5% in the 4th quarter. BB&T Corp now owns 33,086 shares of the financial services provider’s stock valued at $1,277,000 after buying an additional 1,417 shares during the last quarter. Carnick & Kubik Group LLC boosted its position in Synchrony Financial by 3.7% in the 4th quarter. Carnick & Kubik Group LLC now owns 41,991 shares of the financial services provider’s stock valued at $1,621,000 after buying an additional 1,509 shares during the last quarter. Westchester Capital Management Inc. boosted its position in Synchrony Financial by 0.6% in the 4th quarter. Westchester Capital Management Inc. now owns 252,146 shares of the financial services provider’s stock valued at $9,735,000 after buying an additional 1,515 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Synchrony Financial by 8.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,536 shares of the financial services provider’s stock valued at $607,000 after buying an additional 1,571 shares during the last quarter. Institutional investors and hedge funds own 88.65% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Jefferies Group increased their price objective on Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research report on Friday, December 1st. Barclays reiterated a “buy” rating and issued a $43.00 price objective on shares of Synchrony Financial in a research report on Tuesday, November 21st. Wedbush set a $41.00 price objective on Synchrony Financial and gave the company 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 objective on the stock in a research 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 has an average rating of “Buy” and an average target price of $38.11.
Synchrony Financial (SYF) opened at $36.68 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $28,112.82, a price-to-earnings ratio of 15.22, a PEG ratio of 1.43 and a beta of 1.07. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $40.59.
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 the Zacks’ consensus estimate of $0.63 by $0.07. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. During the same quarter in the prior year, the business posted $0.70 EPS. sell-side analysts forecast that Synchrony Financial will post 3.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.64%. The ex-dividend date was Friday, February 2nd. Synchrony Financial’s payout ratio is presently 24.90%.
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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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