Cornerstone Capital Management Holdings LLC. grew its position in shares of Synchrony Financial (NYSE:SYF) by 16.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 926,830 shares of the financial services provider’s stock after buying an additional 129,907 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Synchrony Financial were worth $35,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of SYF. Raymond James Financial Services Advisors Inc. increased its position in shares of Synchrony Financial by 13.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 466,387 shares of the financial services provider’s stock worth $14,481,000 after purchasing an additional 56,959 shares during the period. Alps Advisors Inc. bought a new position in shares of Synchrony Financial in the fourth quarter worth $283,000. Great West Life Assurance Co. Can increased its position in shares of Synchrony Financial by 1.6% in the third quarter. Great West Life Assurance Co. Can now owns 610,025 shares of the financial services provider’s stock worth $18,999,000 after purchasing an additional 9,518 shares during the period. Stifel Financial Corp increased its position in shares of Synchrony Financial by 531.9% in the third quarter. Stifel Financial Corp now owns 577,096 shares of the financial services provider’s stock worth $17,910,000 after purchasing an additional 485,775 shares during the period. Finally, Highlander Capital Management LLC increased its position in shares of Synchrony Financial by 91.0% in the third quarter. Highlander Capital Management LLC now owns 10,492 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 88.65% of the company’s stock.
In other news, insider Thomas M. Quindlen sold 10,712 shares of Synchrony Financial stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $36.73, for a total transaction of $393,451.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Margaret M. Keane sold 13,138 shares of Synchrony Financial stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $36.70, for a total value of $482,164.60. Following the sale, the insider now directly owns 440,169 shares in the company, valued at $16,154,202.30. The disclosure for this sale can be found here. Insiders sold 25,850 shares of company stock worth $955,616 over the last ninety days. 0.03% of the stock is currently owned by insiders.
A number of research analysts recently commented on SYF shares. Barclays set a $53.00 price target on Synchrony Financial and gave the stock a “buy” rating in a research report on Monday, January 22nd. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, January 31st. Jefferies Group restated a “buy” rating and issued a $44.00 price target on shares of Synchrony Financial in a research report on Tuesday, December 26th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Finally, BTIG Research restated a “buy” rating and issued a $44.00 price target on shares of Synchrony Financial in a research report on Sunday, December 17th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $38.11.
Shares of Synchrony Financial (NYSE SYF) opened at $36.68 on Wednesday. The firm has a market capitalization of $28,112.82, a PE ratio of 15.22, a P/E/G ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.45 and a quick ratio of 1.45. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $40.59.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.96 billion. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. During the same period last year, the firm posted $0.70 earnings per share. equities analysts predict that Synchrony Financial will post 3.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Friday, February 2nd. Synchrony Financial’s dividend payout ratio (DPR) is presently 24.90%.
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About Synchrony Financial
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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