Eaton Vance Management decreased its stake in Synchrony Financial (NYSE:SYF) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,702,114 shares of the financial services provider’s stock after selling 11,768 shares during the period. Eaton Vance Management’s holdings in Synchrony Financial were worth $39,932,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in SYF. The Manufacturers Life Insurance Company lifted its stake in Synchrony Financial by 94.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,548,840 shares of the financial services provider’s stock worth $234,618,000 after acquiring an additional 3,669,660 shares in the last quarter. Southpoint Capital Advisors LP purchased a new stake in Synchrony Financial in the 3rd quarter worth about $71,484,000. Oregon Public Employees Retirement Fund lifted its stake in Synchrony Financial by 2,218.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,810,995 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 1,732,885 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Synchrony Financial by 7.7% in the 3rd quarter. Janus Henderson Group PLC now owns 18,623,457 shares of the financial services provider’s stock worth $578,816,000 after acquiring an additional 1,334,141 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in Synchrony Financial by 157.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,021,473 shares of the financial services provider’s stock worth $62,827,000 after acquiring an additional 1,235,889 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.
SYF opened at $31.79 on Thursday. Synchrony Financial has a fifty-two week low of $21.77 and a fifty-two week high of $38.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.41 and a quick ratio of 1.40. The stock has a market cap of $22.55 billion, a PE ratio of 8.50, a PEG ratio of 0.81 and a beta of 1.27.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.16. Synchrony Financial had a return on equity of 19.41% and a net margin of 15.45%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same period last year, the business earned $0.70 EPS. On average, research analysts forecast that Synchrony Financial will post 4.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Monday, February 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Friday, February 1st. Synchrony Financial’s payout ratio is 22.46%.
In related news, insider David P. Melito sold 3,934 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $30.00, for a total value of $118,020.00. Following the transaction, the insider now directly owns 29,486 shares of the company’s stock, valued at approximately $884,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David P. Melito sold 3,204 shares of the firm’s stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $30.00, for a total value of $96,120.00. Following the completion of the transaction, the insider now directly owns 40,313 shares in the company, valued at $1,209,390. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by company insiders.
SYF has been the subject of several research analyst reports. Zacks Investment Research raised Synchrony Financial from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Friday, February 8th. Stephens downgraded Synchrony Financial from an “equal weight” rating to a “sell” rating and set a $26.00 price objective for the company. in a research note on Friday, November 2nd. CIBC raised Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research note on Thursday, January 24th. Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Thursday, November 1st. Finally, TheStreet downgraded Synchrony Financial from a “b-” rating to a “c+” rating in a research note on Monday, November 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $37.73.
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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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