Other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in Synchrony Financial by 6.9% in the fourth quarter. State Street Corp now owns 35,391,924 shares of the financial services provider’s stock worth $1,283,661,000 after buying an additional 2,287,606 shares during the last quarter. FMR LLC boosted its stake in Synchrony Financial by 44.7% in the fourth quarter. FMR LLC now owns 27,582,023 shares of the financial services provider’s stock worth $1,000,400,000 after buying an additional 8,518,794 shares during the last quarter. Baupost Group LLC MA boosted its stake in Synchrony Financial by 17.6% in the fourth quarter. Baupost Group LLC MA now owns 20,665,000 shares of the financial services provider’s stock worth $749,520,000 after buying an additional 3,100,000 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Synchrony Financial by 1.4% in the third quarter. First Eagle Investment Management LLC now owns 16,481,807 shares of the financial services provider’s stock worth $461,491,000 after buying an additional 230,732 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Synchrony Financial by 2.9% in the third quarter. BlackRock Fund Advisors now owns 13,368,723 shares of the financial services provider’s stock worth $374,324,000 after buying an additional 381,721 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.
Trust Co increased its stake in shares of Synchrony Financial (NYSE:SYF) by 12.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,152 shares of the financial services provider’s stock after buying an additional 1,800 shares during the period. Trust Co’s holdings in Synchrony Financial were worth $586,000 at the end of the most recent quarter.
Shares of Synchrony Financial (NYSE:SYF) opened at 28.67 on Friday. The firm has a 50-day moving average price of $32.78 and a 200-day moving average price of $34.10. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $38.06. The stock has a market cap of $23.25 billion, a price-to-earnings ratio of 10.58 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, April 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.13. Synchrony Financial had a net margin of 15.15% and a return on equity of 16.34%. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. Equities analysts expect that Synchrony Financial will post $2.62 EPS for the current fiscal year. The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 18th. Shareholders of record on Monday, May 8th will be paid a $0.13 dividend. The ex-dividend date is Thursday, May 4th. This represents a $0.52 annualized dividend and a yield of 1.81%. Synchrony Financial’s dividend payout ratio is presently 19.19%.
A number of analysts have commented on the company. Barclays PLC set a $47.00 price target on Synchrony Financial and gave the stock a “buy” rating in a research report on Sunday, January 8th. Deutsche Bank AG lowered their price target on Synchrony Financial from $47.00 to $35.00 and set a “hold” rating for the company in a research report on Monday. BTIG Research reduced their price objective on Synchrony Financial from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Monday. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Synchrony Financial in a research note on Sunday, April 30th. Finally, Zacks Investment Research lowered Synchrony Financial from a “hold” rating to a “strong sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $37.67. In related news, Director Will W. Graylin acquired 18,000 shares of the company’s stock in a transaction on Monday, May 1st. The shares were purchased at an average price of $27.80 per share, for a total transaction of $500,400.00. Following the purchase, the director now owns 55,389 shares in the company, valued at $1,539,814.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David P. Melito sold 748 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $34.24, for a total transaction of $25,611.52. Following the completion of the sale, the insider now directly owns 43,390 shares of the company’s stock, valued at $1,485,673.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,457 shares of company stock worth $339,056. Company insiders own 0.02% of the company’s stock.
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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