Earnest Partners LLC cut its holdings in Synchrony Financial (NYSE:SYF) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,008,046 shares of the financial services provider’s stock after selling 9,695 shares during the quarter. Earnest Partners LLC owned approximately 0.14% of Synchrony Financial worth $33,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its stake in shares of Synchrony Financial by 5.1% in the second quarter. Jones Financial Companies Lllp now owns 238,997 shares of the financial services provider’s stock worth $7,977,000 after purchasing an additional 11,647 shares during the last quarter. Richard Bernstein Advisors LLC grew its stake in shares of Synchrony Financial by 51.0% in the second quarter. Richard Bernstein Advisors LLC now owns 16,076 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 5,432 shares during the last quarter. ING Groep NV bought a new stake in shares of Synchrony Financial in the second quarter worth about $2,536,000. Bank of The West grew its stake in shares of Synchrony Financial by 2.4% in the second quarter. Bank of The West now owns 231,995 shares of the financial services provider’s stock worth $7,744,000 after purchasing an additional 5,339 shares during the last quarter. Finally, Cooke & Bieler LP grew its stake in shares of Synchrony Financial by 2.3% in the second quarter. Cooke & Bieler LP now owns 2,468,792 shares of the financial services provider’s stock worth $82,408,000 after purchasing an additional 55,445 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors.
In other Synchrony Financial news, Director Roy A. Guthrie bought 10,000 shares of the stock in a transaction dated Monday, July 30th. The stock was purchased at an average cost 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 of the company’s stock, valued at $1,417,351.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by company insiders.
Several research firms recently issued reports on SYF. Stephens reissued a “hold” rating and issued a $32.00 target price on shares of Synchrony Financial in a research note on Friday, July 27th. JPMorgan Chase & Co. lowered their price objective on shares of Synchrony Financial from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a report on Monday, August 6th. ValuEngine lowered shares of Synchrony Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 1st. Finally, BMO Capital Markets lowered their price objective on shares of Synchrony Financial from $51.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, July 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $38.44.
Shares of SYF opened at $32.01 on Thursday. Synchrony Financial has a one year low of $28.33 and a one year high of $40.59. The stock 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 quarterly earnings data on Friday, July 27th. The financial services provider reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.10. Synchrony Financial had a net margin of 13.39% and a return on equity of 16.96%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the business posted $0.61 earnings per share. equities analysts anticipate that Synchrony Financial will post 3.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.62%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, August 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 32.06%.
Synchrony Financial Company 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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