Bain Capital Public Equity Management LLC purchased a new stake in Synchrony Financial (NYSE:SYF) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 134,800 shares of the company’s stock, valued at approximately $4,889,000.
Several other institutional investors have also modified their holdings of the company. Daiwa Securities Group Inc. increased its stake in Synchrony Financial by 0.5% in the third quarter. Daiwa Securities Group Inc. now owns 20,000 shares of the company’s stock valued at $560,000 after buying an additional 100 shares during the last quarter. NEXT Financial Group Inc increased its stake in Synchrony Financial by 2.6% in the third quarter. NEXT Financial Group Inc now owns 4,019 shares of the company’s stock valued at $113,000 after buying an additional 103 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Synchrony Financial by 4.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 5,350 shares of the company’s stock valued at $150,000 after buying an additional 225 shares during the last quarter. IFP Advisors Inc increased its stake in Synchrony Financial by 3.6% in the second quarter. IFP Advisors Inc now owns 6,991 shares of the company’s stock valued at $177,000 after buying an additional 243 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. increased its stake in Synchrony Financial by 2.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 9,710 shares of the company’s stock valued at $272,000 after buying an additional 270 shares during the last quarter. 89.10% of the stock is owned by institutional investors.
Shares of Synchrony Financial (NYSE:SYF) traded down 0.41% during midday trading on Friday, reaching $36.48. The company’s stock had a trading volume of 4,575,047 shares. The firm has a 50-day moving average of $36.38 and a 200-day moving average of $31.88. Synchrony Financial has a one year low of $23.25 and a one year high of $38.06. The stock has a market cap of $29.82 billion, a PE ratio of 13.46 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, January 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Synchrony Financial had a return on equity of 16.34% and a net margin of 15.15%. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, analysts forecast that Synchrony Financial will post $3.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 6th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, February 2nd. This represents a $0.52 annualized dividend and a dividend yield of 1.43%. Synchrony Financial’s dividend payout ratio (DPR) is presently 19.19%.
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Several research firms have recently commented on SYF. Barclays PLC set a $47.00 price objective on Synchrony Financial and gave the company a “buy” rating in a report on Sunday, January 8th. Vetr downgraded Synchrony Financial from a “buy” rating to a “hold” rating and set a $36.22 price objective for the company. in a report on Thursday, December 1st. Jefferies Group LLC reissued a “buy” rating and issued a $45.00 price objective (up previously from $43.00) on shares of Synchrony Financial in a report on Monday, January 9th. Zacks Investment Research downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a report on Wednesday, December 7th. Finally, Wedbush downgraded Synchrony Financial from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $23.25 to $37.00 in a report on Wednesday, December 7th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $42.70.
In other Synchrony Financial news, insider David P. Melito sold 1,392 shares of Synchrony Financial stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $38.00, for a total value of $52,896.00. Following the completion of the sale, the insider now owns 42,255 shares of the company’s stock, valued at approximately $1,605,690. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.02% of the stock is 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.
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