Gabelli Funds LLC trimmed its position in Synchrony Financial (NYSE:SYF) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,930 shares of the financial services provider’s stock after selling 3,504 shares during the quarter. Gabelli Funds LLC’s holdings in Synchrony Financial were worth $5,939,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. First Mercantile Trust Co. bought a new position in Synchrony Financial in the second quarter valued at approximately $120,000. Assetmark Inc. increased its stake in Synchrony Financial by 98.1% in the second quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 2,143 shares during the last quarter. AdvisorNet Financial Inc increased its stake in Synchrony Financial by 111.6% in the second quarter. AdvisorNet Financial Inc now owns 5,202 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 2,744 shares during the last quarter. Financial Advocates Investment Management bought a new position in Synchrony Financial in the first quarter valued at approximately $212,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Synchrony Financial in the second quarter valued at approximately $212,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.
SYF has been the topic of a number of recent analyst reports. Compass Point reissued a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research note on Monday, July 30th. Barclays cut shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $53.00 to $32.00 in a research note on Monday, July 30th. Stephens reissued a “hold” rating and issued a $32.00 price objective on shares of Synchrony Financial in a research note on Friday, July 27th. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research note on Friday, July 27th. Finally, Edward Jones cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. Synchrony Financial presently has an average rating of “Hold” and a consensus price target of $38.44.
Shares of Synchrony Financial stock opened at $32.01 on Thursday. Synchrony Financial has a fifty-two week low of $28.33 and a fifty-two week high of $40.59. The company has a market capitalization of $23.46 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.90 and a beta of 1.05.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, July 27th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. Synchrony Financial had a net margin of 13.39% and a return on equity of 16.96%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the business posted $0.61 earnings per share. equities research analysts expect that Synchrony Financial will post 3.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 6th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.15. Synchrony Financial’s dividend payout ratio (DPR) is currently 32.06%.
In other Synchrony Financial news, Director Roy A. Guthrie purchased 10,000 shares of the business’s stock in a transaction dated Monday, July 30th. The shares were bought at an average price of $29.53 per share, for a total transaction of $295,300.00. Following the completion of the acquisition, the director now owns 47,997 shares in the company, valued at $1,417,351.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.
Synchrony Financial Profile
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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