Focused Wealth Management Inc purchased a new stake in Synchrony Financial (NYSE:SYF) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,900 shares of the financial services provider’s stock, valued at approximately $228,000.
A number of other hedge funds have also recently made changes to their positions in the business. First Eagle Investment Management LLC raised its position in shares of Synchrony Financial by 2.1% in the third quarter. First Eagle Investment Management LLC now owns 17,666,015 shares of the financial services provider’s stock valued at $548,530,000 after purchasing an additional 362,810 shares during the period. CI Investments Inc. raised its position in shares of Synchrony Financial by 6.5% in the fourth quarter. CI Investments Inc. now owns 11,674,795 shares of the financial services provider’s stock valued at $450,764,000 after purchasing an additional 714,233 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Synchrony Financial by 6.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 7,735,326 shares of the financial services provider’s stock valued at $298,661,000 after purchasing an additional 468,586 shares during the period. Bank of Montreal Can raised its position in shares of Synchrony Financial by 30.3% in the fourth quarter. Bank of Montreal Can now owns 5,521,901 shares of the financial services provider’s stock valued at $213,200,000 after purchasing an additional 1,284,298 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Synchrony Financial by 14.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,712,842 shares of the financial services provider’s stock valued at $181,963,000 after purchasing an additional 603,100 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 the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $36.73, for a total value of $393,451.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Margaret M. Keane sold 13,138 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $36.70, for a total transaction of $482,164.60. Following the completion of the sale, 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 90 days, insiders sold 25,850 shares of company stock worth $955,616. 0.03% of the stock is currently owned by corporate insiders.
Shares of Synchrony Financial (SYF) traded down $0.58 during trading on Wednesday, reaching $36.10. 4,231,666 shares of the company’s stock were exchanged, compared to its average volume of 6,120,000. The firm has a market capitalization of $28,250.00, a P/E ratio of 13.78, a price-to-earnings-growth 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 announced its quarterly earnings data 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. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. Synchrony Financial had a net margin of 11.75% and a return on equity of 14.62%. During the same period in the prior year, the company posted $0.70 earnings per share. research analysts forecast that Synchrony Financial will post 3.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid 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 1.66%. Synchrony Financial’s payout ratio is currently 22.90%.
Several equities analysts have recently weighed in on the stock. Barclays reissued a “buy” rating and issued a $43.00 price objective on shares of Synchrony Financial in a research report on Tuesday, November 21st. Zacks Investment Research raised shares of 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. BTIG Research reaffirmed a “buy” rating and set a $44.00 price target on shares of Synchrony Financial in a research report on Sunday, December 17th. Wells Fargo & Co raised shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research report on Tuesday, January 9th. Finally, Buckingham Research initiated coverage on shares of Synchrony Financial in a research report on Wednesday. They set a “buy” rating and a $42.00 price target on the stock. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $38.32.
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Synchrony Financial 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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