State Treasurer State of Michigan cut its holdings in Synchrony Financial (NYSE:SYF) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,310 shares of the financial services provider’s stock after selling 13,700 shares during the quarter. State Treasurer State of Michigan’s holdings in Synchrony Financial were worth $4,441,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SYF. FMR LLC lifted its holdings in shares of Synchrony Financial by 1.1% during the 3rd quarter. FMR LLC now owns 50,346,639 shares of the financial services provider’s stock valued at $1,564,774,000 after buying an additional 563,203 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Synchrony Financial by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 18,623,457 shares of the financial services provider’s stock valued at $578,816,000 after buying an additional 1,334,141 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Synchrony Financial by 94.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,548,840 shares of the financial services provider’s stock valued at $234,618,000 after buying an additional 3,669,660 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Synchrony Financial by 4.0% during the 3rd quarter. Clearbridge Investments LLC now owns 6,874,239 shares of the financial services provider’s stock valued at $213,651,000 after buying an additional 264,003 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Synchrony Financial by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,471,721 shares of the financial services provider’s stock valued at $138,992,000 after buying an additional 75,410 shares during the period. 83.94% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider David P. Melito sold 3,934 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $30.00, for a total value of $118,020.00. Following the transaction, the insider now directly owns 29,486 shares of the company’s stock, valued at approximately $884,580. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David P. Melito sold 3,204 shares of the firm’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $30.00, for a total value of $96,120.00. Following the completion of the transaction, the insider now directly owns 40,313 shares in the company, valued at $1,209,390. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by company insiders.
Shares of Synchrony Financial stock opened at $29.94 on Friday. Synchrony Financial has a one year low of $21.77 and a one year high of $38.07. The firm has a market capitalization of $21.64 billion, a P/E ratio of 8.03, a P/E/G ratio of 0.77 and a beta of 1.27. The company has a current ratio of 1.41, a quick ratio of 1.40 and a debt-to-equity ratio of 1.63.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.16. Synchrony Financial had a return on equity of 19.41% and a net margin of 15.45%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the firm earned $0.70 EPS. As a group, analysts forecast that Synchrony Financial will post 4.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Monday, February 4th will be issued a $0.21 dividend. The ex-dividend date is Friday, February 1st. This represents a $0.84 dividend on an annualized basis and a yield of 2.81%. Synchrony Financial’s dividend payout ratio is currently 22.46%.
Several equities analysts have recently weighed in on the company. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a report on Thursday, November 1st. BMO Capital Markets increased their price target on Synchrony Financial from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 22nd. Stephens raised Synchrony Financial from an “underweight” rating to an “equal weight” rating in a report on Thursday, January 3rd. ValuEngine raised Synchrony Financial from a “strong sell” rating to a “sell” rating in a report on Friday, December 7th. Finally, TheStreet cut Synchrony Financial from a “b-” rating to a “c+” rating in a report on Monday, November 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.71.
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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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