Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in Synchrony Financial (NYSE:SYF) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,022 shares of the financial services provider’s stock after selling 12,729 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Synchrony Financial were worth $5,797,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group increased its position in Synchrony Financial by 0.3% in the first quarter. Rehmann Capital Advisory Group now owns 8,749 shares of the financial services provider’s stock valued at $300,000 after buying an additional 22 shares during the period. IFP Advisors Inc increased its position in Synchrony Financial by 3.4% in the first quarter. IFP Advisors Inc now owns 6,216 shares of the financial services provider’s stock valued at $213,000 after buying an additional 206 shares during the period. Creative Planning increased its position in Synchrony Financial by 4.3% in the first quarter. Creative Planning now owns 5,863 shares of the financial services provider’s stock valued at $201,000 after buying an additional 240 shares during the period. Raymond James Trust N.A. increased its position in Synchrony Financial by 4.3% in the first quarter. Raymond James Trust N.A. now owns 6,625 shares of the financial services provider’s stock valued at $227,000 after buying an additional 274 shares during the period. Finally, Intrust Bank NA increased its position in Synchrony Financial by 1.5% in the first quarter. Intrust Bank NA now owns 18,676 shares of the financial services provider’s stock valued at $640,000 after buying an additional 274 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.
Shares of Synchrony Financial (NYSE SYF) traded up 0.10% during midday trading on Friday, reaching $28.70. The company’s stock had a trading volume of 7,848,342 shares. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $38.06. The stock has a market capitalization of $23.28 billion, a P/E ratio of 10.95 and a beta of 1.06. The stock’s 50-day moving average is $28.45 and its 200 day moving average is $33.71.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, April 28th. The financial services provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by $0.13. Synchrony Financial had a return on equity of 16.34% and a net margin of 15.15%. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the firm earned $0.70 EPS. On average, analysts expect that Synchrony Financial will post $2.60 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 8th were given 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 dividend payout ratio is currently 19.19%.
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Several equities analysts recently weighed in on the company. Deutsche Bank AG reduced their target price on Synchrony Financial from $47.00 to $35.00 and set a “hold” rating on the stock in a research report on Monday, May 1st. BTIG Research reduced their target price on Synchrony Financial from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, May 1st. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Synchrony Financial in a research report on Sunday, April 30th. Jefferies Group LLC restated a “buy” rating and set a $40.00 price target on shares of Synchrony Financial in a research note on Friday. Finally, CIBC restated a “market perform” rating on shares of Synchrony Financial in a research note on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price 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 acquired at an average cost of $27.80 per share, for a total transaction of $500,400.00. Following the completion of the purchase, the director now owns 55,389 shares of the company’s stock, valued at approximately $1,539,814.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David P. Melito sold 748 shares of Synchrony Financial stock in a transaction dated Wednesday, April 5th. The stock was 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 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.
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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