Psagot Investment House Ltd. lifted its holdings in Synchrony Financial (NYSE:SYF) by 15,649.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,112 shares of the financial services provider’s stock after purchasing an additional 242,562 shares during the quarter. Psagot Investment House Ltd.’s holdings in Synchrony Financial were worth $7,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of SYF. First Mercantile Trust Co. purchased a new position in shares of Synchrony Financial in the second quarter worth $120,000. Ayalon Holdings Ltd. purchased a new position in shares of Synchrony Financial in the third quarter worth $140,000. Assetmark Inc. raised its stake in shares of Synchrony Financial by 98.1% in the second quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 2,143 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of Synchrony Financial by 111.6% in the second quarter. AdvisorNet Financial Inc now owns 5,202 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 2,744 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Synchrony Financial in the second quarter worth $212,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.
SYF has been the subject of a number of research reports. Stephens cut Synchrony Financial from an “equal weight” rating to a “sell” rating and set a $26.00 price objective for the company. in a research report on Friday, November 2nd. Bank of America cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Wednesday, September 26th. Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a research report on Monday, August 6th. Edward Jones cut Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Finally, ValuEngine cut Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $37.06.
NYSE:SYF traded up $0.22 during mid-day trading on Wednesday, hitting $27.09. 44,453 shares of the company traded hands, compared to its average volume of 6,383,443. Synchrony Financial has a one year low of $26.13 and a one year high of $40.59. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $19.00 billion, a PE ratio of 10.34, a P/E/G ratio of 0.73 and a beta of 1.05.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, October 19th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.11. Synchrony Financial had a return on equity of 17.90% and a net margin of 13.70%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. Equities analysts forecast that Synchrony Financial will post 3.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 5th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Friday, November 2nd. Synchrony Financial’s dividend payout ratio is presently 32.06%.
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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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