The Westchester Capital Management Inc. Has $8.19 Million Stake in Synchrony Financial (SYF)

The Westchester Capital Management Inc. Has $8.19 Million Stake in Synchrony Financial (SYF)

A number of other institutional investors have also recently modified their holdings of SYF. State of Alaska Department of Revenue purchased a new position in shares of Synchrony Financial during the first quarter worth $152,000. Coconut Grove Bank increased its position in shares of Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock worth $154,000 after buying an additional 2,170 shares during the last quarter. Commonwealth Bank of Australia increased its position in shares of Synchrony Financial by 50.2% in the third quarter. Commonwealth Bank of Australia now owns 4,562 shares of the financial services provider’s stock worth $128,000 after buying an additional 1,525 shares during the last quarter. SRB Corp increased its position in shares of Synchrony Financial by 23.1% in the third quarter. SRB Corp now owns 5,786 shares of the financial services provider’s stock worth $162,000 after buying an additional 1,084 shares during the last quarter. Finally, Bluestein R H & Co. purchased a new position in shares of Synchrony Financial during the fourth quarter worth $210,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Westchester Capital Management Inc. lowered its position in Synchrony Financial (NYSE:SYF) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 238,723 shares of the financial services provider’s stock after selling 3,152 shares during the period. Synchrony Financial comprises about 3.9% of Westchester Capital Management Inc.’s holdings, making the stock its 12th largest position. Westchester Capital Management Inc.’s holdings in Synchrony Financial were worth $8,188,000 at the end of the most recent reporting period.

Shares of Synchrony Financial (NYSE:SYF) opened at 27.40 on Monday. The firm has a market cap of $22.22 billion, a P/E ratio of 10.45 and a beta of 1.06. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $38.06. The stock’s 50 day moving average is $29.00 and its 200 day moving average is $33.89.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by $0.13. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. Synchrony Financial had a net margin of 15.15% and a return on equity of 16.34%. During the same period in the previous year, the business earned $0.70 earnings per share. Equities research analysts expect that Synchrony Financial will post $2.60 EPS for the current year. The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 8th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, May 4th. Synchrony Financial’s dividend payout ratio is currently 19.19%.

Several research firms have commented on SYF. ValuEngine downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Synchrony Financial in a report on Sunday, April 30th. BTIG Research restated a “buy” rating and issued a $36.00 price target on shares of Synchrony Financial in a research note on Wednesday, May 24th. Vetr downgraded shares of Synchrony Financial from a “strong-buy” rating to a “buy” rating and set a $41.65 price target on the stock. in a research note on Tuesday, February 14th. Finally, Zacks Investment Research downgraded shares of Synchrony Financial from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Synchrony Financial currently has a consensus rating of “Buy” and a consensus target price of $37.71. In other news, Director Will W. Graylin bought 18,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was acquired at an average cost of $27.80 per share, with a total value of $500,400.00. Following the transaction, the director now directly owns 55,389 shares in the company, valued at approximately $1,539,814.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David P. Melito sold 748 shares of Synchrony Financial stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $34.24, for a total value of $25,611.52. Following 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. 0.02% of the stock is currently owned by company insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SYF”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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