Prudential Financial Inc. decreased its stake in shares of Synchrony Financial (NYSE:SYF) by 58.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,102,954 shares of the financial services provider’s stock after selling 2,926,261 shares during the period. Prudential Financial Inc. owned approximately 0.26% of Synchrony Financial worth $72,132,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of SYF. NBW Capital LLC increased its stake in Synchrony Financial by 15.6% in the third quarter. NBW Capital LLC now owns 220,548 shares of the financial services provider’s stock worth $6,175,000 after buying an additional 29,811 shares in the last quarter. First Eagle Investment Management LLC increased 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 in the last quarter. Blue Rock Advisors LLC bought a new stake in Synchrony Financial during the third quarter worth approximately $439,000. Gluskin Sheff & Assoc Inc. increased its stake in Synchrony Financial by 1,313.0% in the third quarter. Gluskin Sheff & Assoc Inc. now owns 839,654 shares of the financial services provider’s stock worth $22,996,000 after buying an additional 780,230 shares in the last quarter. Finally, FOURPOINTS Investment Managers S.A.S. bought a new stake in Synchrony Financial during the third quarter worth approximately $1,868,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of Synchrony Financial (NYSE:SYF) traded up 0.459% during midday trading on Friday, hitting $27.345. The company’s stock had a trading volume of 6,558,890 shares. The company has a 50-day moving average price of $29.15 and a 200 day moving average price of $33.94. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $38.06. The company has a market cap of $22.18 billion, a P/E ratio of 10.433 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates 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 prior year, the firm earned $0.70 earnings per share. On average, equities research analysts predict that Synchrony Financial will post $2.60 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 8th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Thursday, May 4th. Synchrony Financial’s dividend payout ratio is 19.19%.
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SYF has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $38.00 price objective on shares of Synchrony Financial in a report on Tuesday, April 11th. Vetr downgraded Synchrony Financial from a “strong-buy” rating to a “buy” rating and set a $41.65 price objective for the company. in a report on Tuesday, February 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Synchrony Financial in a report on Tuesday, February 14th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $44.00 price objective on shares of Synchrony Financial in a report on Tuesday, April 11th. Finally, DA Davidson dropped their price objective on Synchrony Financial from $45.00 to $41.00 and set a “buy” rating for the company in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $37.71.
In other Synchrony Financial news, Director Will W. Graylin acquired 18,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were bought at an average cost of $27.80 per share, with a total value of $500,400.00. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David P. Melito sold 748 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 43,390 shares in the company, valued at $1,485,673.60. The disclosure for this sale can be found here. 0.02% of the stock is owned by 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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