Los Angeles Capital Management & Equity Research Inc. lessened its holdings in shares of Synchrony Financial (NYSE:SYF) by 18.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 153,849 shares of the financial services provider’s stock after selling 34,506 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Synchrony Financial were worth $4,777,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in SYF. Bbva Compass Bancshares Inc. boosted its holdings in Synchrony Financial by 0.3% in the second quarter. Bbva Compass Bancshares Inc. now owns 32,000 shares of the financial services provider’s stock valued at $954,000 after acquiring an additional 94 shares during the last quarter. ING Groep NV boosted its holdings in Synchrony Financial by 0.4% in the second quarter. ING Groep NV now owns 39,434 shares of the financial services provider’s stock valued at $1,176,000 after acquiring an additional 140 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Synchrony Financial by 0.6% in the second quarter. Federated Investors Inc. PA now owns 26,333 shares of the financial services provider’s stock valued at $786,000 after acquiring an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Synchrony Financial by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 486 shares during the last quarter. Finally, Horan Capital Advisors LLC. boosted its holdings in Synchrony Financial by 0.5% in the second quarter. Horan Capital Advisors LLC. now owns 100,524 shares of the financial services provider’s stock valued at $2,998,000 after acquiring an additional 525 shares during the last quarter. Institutional investors own 85.77% of the company’s stock.
In other Synchrony Financial news, insider David P. Melito sold 2,580 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total value of $90,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David P. Melito sold 1,881 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $38.00, for a total value of $71,478.00. Following the completion of the transaction, the insider now directly owns 43,140 shares of the company’s stock, valued at approximately $1,639,320. The disclosure for this sale can be found here. Insiders have sold a total of 6,961 shares of company stock valued at $244,508 in the last three months. 0.03% of the stock is owned by insiders.
Synchrony Financial (SYF) traded up $0.08 during trading on Wednesday, hitting $37.39. The stock had a trading volume of 5,705,954 shares, compared to its average volume of 7,055,271. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.47 and a quick ratio of 1.47. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. The firm has a market cap of $29,308.06, a PE ratio of 14.29, a P/E/G ratio of 1.89 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. research analysts anticipate that Synchrony Financial will post 2.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 6th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, November 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.60%. Synchrony Financial’s dividend payout ratio (DPR) is currently 22.90%.
SYF has been the topic of a number of recent analyst reports. Jefferies Group raised their target price on Synchrony Financial to $44.00 and gave the stock a “top pick” rating in a report on Friday, December 1st. BidaskClub upgraded Synchrony Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Zacks Investment Research raised Synchrony Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, October 23rd. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research report on Tuesday, October 31st. Finally, Morgan Stanley boosted their price target on Synchrony Financial from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Synchrony Financial has an average rating of “Buy” and a consensus target price of $37.14.
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Synchrony Financial Company Profile
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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