Point View Wealth Management Inc. raised its position in Synchrony Financial (NYSE:SYF) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,719 shares of the financial services provider’s stock after buying an additional 745 shares during the period. Point View Wealth Management Inc.’s holdings in Synchrony Financial were worth $539,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. State Street Corp raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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, Norges Bank acquired a new stake in shares of Synchrony Financial during the fourth quarter worth $289,634,000. Institutional investors and hedge funds own 89.10% of the company’s stock.
Shares of Synchrony Financial (NYSE:SYF) traded up 0.10% during mid-day trading on Friday, reaching $28.70. The company’s stock had a trading volume of 7,848,342 shares. The firm has a market capitalization of $23.28 billion, a P/E ratio of 10.95 and a beta of 1.06. The company’s 50-day moving average is $28.45 and its 200 day moving average is $33.71. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $38.06.
Synchrony Financial (NYSE:SYF) last released its 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. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Synchrony Financial had a net margin of 15.15% and a return on equity of 16.34%. During the same quarter in the previous year, the company earned $0.70 EPS. On average, analysts expect that Synchrony Financial will post $2.60 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 8th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. Synchrony Financial’s payout ratio is currently 19.19%.
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A number of equities research analysts have recently weighed in on SYF shares. Wells Fargo & Co assumed coverage on Synchrony Financial in a research note on Wednesday, March 29th. They set an “outperform” rating on the stock. TheStreet downgraded Synchrony Financial from a “b” rating to a “c+” rating in a report on Wednesday, May 3rd. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a report on Sunday, April 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of Synchrony Financial in a report on Tuesday, February 14th. Finally, ValuEngine downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $37.71.
In other Synchrony Financial news, Director Will W. Graylin bought 18,000 shares of Synchrony Financial stock in a transaction dated Monday, May 1st. The stock was bought at an average price of $27.80 per share, for a total transaction of $500,400.00. Following the completion of the acquisition, the director now directly owns 55,389 shares of the company’s stock, valued at $1,539,814.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David P. Melito sold 748 shares of the 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 completion of the sale, the insider now owns 43,390 shares of the company’s stock, valued at approximately $1,485,673.60. The disclosure for this sale can be found here. 0.02% of the stock is owned by corporate insiders.
About Synchrony Financial
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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