Gabelli Funds LLC cut its position in shares of Synchrony Financial (NYSE:SYF) by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,434 shares of the financial services provider’s stock after selling 5,000 shares during the period. Gabelli Funds LLC’s holdings in Synchrony Financial were worth $2,265,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mackay Shields LLC increased its position in shares of Synchrony Financial by 17.2% during the third quarter. Mackay Shields LLC now owns 1,058,975 shares of the financial services provider’s stock valued at $36,101,000 after purchasing an additional 155,054 shares during the period. IFM Investors Pty Ltd boosted its stake in Synchrony Financial by 54.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 69,720 shares of the financial services provider’s stock valued at $2,377,000 after buying an additional 24,636 shares in the last quarter. Atlas Capital Advisors LLC boosted its stake in Synchrony Financial by 3.1% in the 3rd quarter. Atlas Capital Advisors LLC now owns 12,206 shares of the financial services provider’s stock valued at $416,000 after buying an additional 369 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Synchrony Financial by 2.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,157,388 shares of the financial services provider’s stock valued at $107,146,000 after buying an additional 89,977 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Synchrony Financial by 82.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,928 shares of the financial services provider’s stock valued at $544,000 after buying an additional 7,209 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.
Synchrony Financial stock traded down $0.02 on Friday, reaching $36.94. The company’s stock had a trading volume of 3,898,564 shares, compared to its average volume of 5,632,108. 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 price-to-earnings ratio of 9.88, a PEG ratio of 0.91 and a beta of 1.16. The business’s fifty day moving average price is $34.24 and its 200 day moving average price is $34.30. Synchrony Financial has a twelve month low of $21.77 and a twelve month high of $37.33.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.33 billion. Synchrony Financial had a return on equity of 20.05% and a net margin of 19.54%. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, equities analysts forecast that Synchrony Financial will post 4.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Friday, November 1st. Synchrony Financial’s dividend payout ratio is currently 23.53%.
Several analysts recently commented on SYF shares. Oppenheimer set a $39.00 price target on Synchrony Financial and gave the company a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets set a $43.00 price target on Synchrony Financial and gave the company a “buy” rating in a research note on Sunday, July 21st. Nomura set a $43.00 price target on Synchrony Financial and gave the company a “buy” rating in a research note on Monday, October 21st. ValuEngine lowered Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $42.00 price target on shares of Synchrony Financial in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.92.
In other Synchrony Financial news, Director Will W. Graylin sold 7,500 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $33.71, for a total value of $252,825.00. Following the transaction, the director now owns 76,662 shares of the company’s stock, valued at $2,584,276.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.
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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