Employees Retirement System of Texas lowered its position in Synchrony Financial (NYSE:SYF) by 0.4% during the 4th quarter, HoldingsChannel reports. The firm owned 524,541 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Synchrony Financial were worth $20,253,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in SYF. Caisse DE Depot ET Placement DU Quebec grew its stake in Synchrony Financial by 2,777.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,109,742 shares of the financial services provider’s stock worth $128,144,000 after purchasing an additional 3,966,900 shares in the last quarter. Bank of Montreal Can boosted its position in Synchrony Financial by 30.3% during the 4th quarter. Bank of Montreal Can now owns 5,521,901 shares of the financial services provider’s stock valued at $213,200,000 after acquiring an additional 1,284,298 shares in the last quarter. Artemis Investment Management LLP boosted its position in Synchrony Financial by 47.6% during the 3rd quarter. Artemis Investment Management LLP now owns 3,203,676 shares of the financial services provider’s stock valued at $99,459,000 after acquiring an additional 1,033,704 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Synchrony Financial during the 4th quarter valued at $35,492,000. Finally, Canada Pension Plan Investment Board boosted its position in Synchrony Financial by 37.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,930,174 shares of the financial services provider’s stock valued at $90,982,000 after acquiring an additional 794,200 shares in the last quarter. 87.58% of the stock is currently owned by institutional investors.
SYF has been the topic of several recent research reports. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. BTIG Research reaffirmed a “buy” rating and set a $44.00 target price on shares of Synchrony Financial in a research report on Sunday, December 17th. JMP Securities increased their target price on Synchrony Financial from $35.00 to $37.00 and gave the company a “market outperform” rating in a research report on Monday, October 23rd. Barclays set a $55.00 target price on Synchrony Financial and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Wells Fargo & Co raised Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Tuesday, January 9th. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $38.30.
Shares of Synchrony Financial (SYF) opened at $36.73 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.45 and a quick ratio of 1.47. The firm has a market capitalization of $28,300.46, a price-to-earnings ratio of 14.02, a PEG ratio of 1.42 and a beta of 1.01. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $40.59.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.07. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. During the same quarter last year, the firm earned $0.70 EPS. research analysts expect that Synchrony Financial will post 3.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were given a $0.15 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.63%. Synchrony Financial’s payout ratio is 24.90%.
In other news, insider Margaret M. Keane sold 13,138 shares of the firm’s 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 sale, the insider now owns 440,169 shares of the company’s stock, valued at approximately $16,154,202.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David P. Melito sold 2,580 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total value of $90,300.00. The disclosure for this sale can be found here. Insiders sold a total of 19,599 shares of company stock valued at $723,943 in the last three months. Insiders own 0.03% of the company’s stock.
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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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