MML Investors Services LLC bought a new stake in Synchrony Financial (NYSE:SYF) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,620 shares of the financial services provider’s stock, valued at approximately $217,000.
Other hedge funds also recently made changes to their positions in the company. Patten Group Inc. boosted its holdings in Synchrony Financial by 3,019.4% in the third quarter. Patten Group Inc. now owns 106,713 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 103,292 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Synchrony Financial in the third quarter valued at approximately $192,000. Flossbach Von Storch AG bought a new stake in Synchrony Financial in the fourth quarter valued at approximately $202,000. TRUE Private Wealth Advisors bought a new stake in Synchrony Financial in the fourth quarter valued at approximately $204,000. Finally, Trustmark National Bank Trust Department bought a new stake in Synchrony Financial in the third quarter valued at approximately $210,000. Institutional investors and hedge funds own 88.63% of the company’s stock.
In related news, insider Thomas M. Quindlen sold 10,712 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $36.73, for a total value of $393,451.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Margaret M. Keane sold 13,138 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $36.70, for a total value of $482,164.60. Following the completion of the transaction, the insider now owns 440,169 shares in the company, valued at $16,154,202.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,850 shares of company stock worth $955,616. 0.03% of the stock is owned by company insiders.
SYF stock opened at $32.51 on Friday. Synchrony Financial has a twelve month low of $26.01 and a twelve month high of $40.59. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $25,642.12, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.30 and a beta of 1.07.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, January 19th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the business earned $0.70 EPS. analysts predict that Synchrony Financial will post 3.39 earnings per share for the current year.
SYF has been the topic of several analyst reports. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating in a report on Monday, December 18th. BTIG Research reiterated a “buy” rating and issued a $44.00 target price on shares of Synchrony Financial in a report on Sunday, December 17th. Barclays set a $53.00 price target on Synchrony Financial and gave the stock a “buy” rating in a report on Monday, January 22nd. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a report on Monday, January 22nd. Finally, Wells Fargo upgraded Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a report on Tuesday, January 9th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $38.32.
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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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