IBM Retirement Fund Has $572,000 Stake in Synchrony Financial (SYF)

Share on StockTwits

IBM Retirement Fund cut its stake in shares of Synchrony Financial (NYSE:SYF) by 12.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,150 shares of the financial services provider’s stock after selling 2,526 shares during the period. IBM Retirement Fund’s holdings in Synchrony Financial were worth $572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in shares of Synchrony Financial by 5.1% during the second quarter. Jones Financial Companies Lllp now owns 238,997 shares of the financial services provider’s stock valued at $7,977,000 after buying an additional 11,647 shares during the period. Richard Bernstein Advisors LLC increased its position in shares of Synchrony Financial by 51.0% during the second quarter. Richard Bernstein Advisors LLC now owns 16,076 shares of the financial services provider’s stock valued at $537,000 after buying an additional 5,432 shares during the period. ING Groep NV bought a new stake in shares of Synchrony Financial during the second quarter valued at about $2,536,000. Bank of The West increased its position in shares of Synchrony Financial by 2.4% during the second quarter. Bank of The West now owns 231,995 shares of the financial services provider’s stock valued at $7,744,000 after buying an additional 5,339 shares during the period. Finally, Cooke & Bieler LP increased its position in shares of Synchrony Financial by 2.3% during the second quarter. Cooke & Bieler LP now owns 2,468,792 shares of the financial services provider’s stock valued at $82,408,000 after buying an additional 55,445 shares during the period. Hedge funds and other institutional investors own 85.03% of the company’s stock.

SYF has been the topic of several research analyst reports. Edward Jones cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. UBS Group upgraded shares of Synchrony Financial from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $32.00 to $33.00 in a research report on Friday, August 3rd. Compass Point restated a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research report 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 stock from $53.00 to $32.00 in a research report on Monday, July 30th. Finally, ValuEngine cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.44.

Shares of SYF opened at $31.73 on Friday. The company has a market capitalization of $23.55 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.91 and a beta of 1.05. Synchrony Financial has a 1 year low of $28.33 and a 1 year high of $40.59.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, July 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.10. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.82 billion. Synchrony Financial had a return on equity of 16.96% and a net margin of 13.39%. During the same quarter in the prior year, the firm earned $0.61 earnings per share. equities analysts expect that Synchrony Financial will post 3.39 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 6th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.84 annualized dividend and a yield of 2.65%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.15. Synchrony Financial’s dividend payout ratio is currently 32.06%.

In other news, Director Roy A. Guthrie bought 10,000 shares of the business’s stock in a transaction on Monday, July 30th. The stock was acquired at an average price of $29.53 per share, with a total value of $295,300.00. Following the completion of the purchase, the director now directly owns 47,997 shares in the company, valued at $1,417,351.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by corporate insiders.

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.

Read More: What do I need to know about analyst ratings?

Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF).

Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply