Nissay Asset Management Corp Japan ADV trimmed its holdings in Synchrony Financial (NYSE:SYF) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,132 shares of the financial services provider’s stock after selling 8,577 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Synchrony Financial were worth $2,875,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Wilsey Asset Management Inc. boosted its holdings in Synchrony Financial by 9.1% in the first quarter. Wilsey Asset Management Inc. now owns 417,539 shares of the financial services provider’s stock valued at $13,392,000 after purchasing an additional 34,936 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in Synchrony Financial in the fourth quarter valued at $675,000. Norges Bank purchased a new stake in Synchrony Financial in the fourth quarter valued at $168,722,000. Kinneret Advisory LLC purchased a new stake in Synchrony Financial in the fourth quarter valued at $88,000. Finally, D.A. Davidson & CO. boosted its holdings in Synchrony Financial by 4.7% in the fourth quarter. D.A. Davidson & CO. now owns 215,241 shares of the financial services provider’s stock valued at $5,050,000 after purchasing an additional 9,658 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.
In related news, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $32.00, for a total transaction of $102,528.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Melito sold 6,014 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $34.25, for a total transaction of $205,979.50. Following the transaction, the insider now owns 29,476 shares of the company’s stock, valued at approximately $1,009,553. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,422 shares of company stock valued at $2,067,444. Insiders own 0.32% of the company’s stock.
Shares of Synchrony Financial stock opened at $34.77 on Thursday. The stock has a market capitalization of $23.97 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 1.04 and a beta of 1.30. Synchrony Financial has a fifty-two week low of $21.77 and a fifty-two week high of $36.32. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.39 and a quick ratio of 1.27.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. Synchrony Financial had a net margin of 17.52% and a return on equity of 19.79%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. On average, sell-side analysts predict that Synchrony Financial will post 4.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.42%. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.46%.
SYF has been the topic of several recent research reports. Oppenheimer raised shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a report on Thursday, January 24th. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Wednesday, January 30th. Zacks Investment Research downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Goldman Sachs Group upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Thursday, February 14th. Finally, ValuEngine upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $37.47.
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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