IFM Investors Pty Ltd raised its position in Synchrony Financial (NYSE:SYF) by 54.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,720 shares of the financial services provider’s stock after buying an additional 24,636 shares during the quarter. IFM Investors Pty Ltd’s holdings in Synchrony Financial were worth $2,377,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Garrett Wealth Advisory Group LLC purchased a new position in shares of Synchrony Financial in the third quarter valued at $26,000. Executive Wealth Management LLC purchased a new position in shares of Synchrony Financial in the second quarter valued at $27,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Synchrony Financial in the second quarter valued at $29,000. Captrust Financial Advisors grew its position in shares of Synchrony Financial by 321.5% in the second quarter. Captrust Financial Advisors now owns 843 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 643 shares in the last quarter. Finally, Capital Investment Advisory Services LLC purchased a new position in shares of Synchrony Financial in the second quarter valued at $30,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.
In related news, Director Will W. Graylin sold 7,500 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $33.71, for a total transaction of $252,825.00. Following the completion of the transaction, the director now directly owns 76,662 shares in the company, valued at $2,584,276.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.32% of the stock is owned by insiders.
Synchrony Financial stock traded down $0.30 during midday trading on Friday, hitting $36.66. 50,813 shares of the company’s stock were exchanged, compared to its average volume of 5,079,481. Synchrony Financial has a 52-week low of $21.77 and a 52-week high of $37.33. The stock has a 50-day moving average price of $34.19 and a two-hundred day moving average price of $34.29. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.26 and a current ratio of 1.38. The company has a market cap of $23.88 billion, a P/E ratio of 9.78, a PEG ratio of 0.91 and a beta of 1.16.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, October 18th. The financial services provider reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.10. Synchrony Financial had a return on equity of 20.05% and a net margin of 19.54%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the previous year, the business earned $0.91 earnings per share. As a group, sell-side analysts expect that Synchrony Financial will post 4.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, November 1st. Synchrony Financial’s payout ratio is 23.53%.
Several brokerages have recently weighed in on SYF. ValuEngine cut Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BMO Capital Markets set a $43.00 price target on Synchrony Financial and gave the company a “buy” rating in a research report on Sunday, July 21st. Buckingham Research began coverage on Synchrony Financial in a research report on Monday, July 22nd. They issued a “buy” rating and a $42.00 price target for the company. Oppenheimer set a $39.00 price target on Synchrony Financial and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Nomura set a $43.00 price target on Synchrony Financial and gave the company a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.92.
Synchrony Financial 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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