Daiwa Securities Group Inc. grew its stake in Synchrony Financial (NYSE:SYF – Get Rating) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,085 shares of the financial services provider’s stock after purchasing an additional 437 shares during the period. Daiwa Securities Group Inc.’s holdings in Synchrony Financial were worth $1,120,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Global Assets Advisory LLC grew its position in Synchrony Financial by 4.2% in the 4th quarter. Global Assets Advisory LLC now owns 7,496 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 300 shares during the last quarter. Brighton Jones LLC grew its position in Synchrony Financial by 1.3% in the 3rd quarter. Brighton Jones LLC now owns 24,238 shares of the financial services provider’s stock worth $683,000 after purchasing an additional 318 shares during the last quarter. OLD National Bancorp IN lifted its holdings in shares of Synchrony Financial by 4.0% during the 3rd quarter. OLD National Bancorp IN now owns 8,724 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 332 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Synchrony Financial by 2.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,310 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 351 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of Synchrony Financial by 5.5% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,656 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 397 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SYF has been the subject of a number of analyst reports. JMP Securities raised their price objective on shares of Synchrony Financial from $39.00 to $42.00 and gave the stock a “market outperform” rating in a report on Tuesday, January 24th. The Goldman Sachs Group reduced their price objective on shares of Synchrony Financial from $41.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, April 5th. Barclays downgraded shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $41.00 to $38.00 in a report on Friday, January 6th. Morgan Stanley reduced their price objective on shares of Synchrony Financial from $31.00 to $26.00 and set an “underweight” rating for the company in a report on Wednesday, April 5th. Finally, Oppenheimer raised shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Friday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.56.
Synchrony Financial Trading Up 0.6 %
Synchrony Financial (NYSE:SYF – Get Rating) last announced its earnings results on Wednesday, April 19th. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Synchrony Financial had a return on equity of 21.68% and a net margin of 14.93%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. As a group, equities analysts expect that Synchrony Financial will post 4.91 earnings per share for the current fiscal year.
Synchrony Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Tuesday, May 2nd will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, May 1st. Synchrony Financial’s dividend payout ratio is 16.20%.
Synchrony Financial declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Insider Transactions at Synchrony Financial
In other news, insider Alberto Casellas sold 39,460 shares of Synchrony Financial stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $36.14, for a total transaction of $1,426,084.40. Following the completion of the sale, the insider now owns 70,040 shares in the company, valued at approximately $2,531,245.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Bart Schaller sold 11,071 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $36.25, for a total transaction of $401,323.75. Following the completion of the transaction, the insider now owns 71,664 shares in the company, valued at $2,597,820. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alberto Casellas sold 39,460 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $36.14, for a total transaction of $1,426,084.40. Following the transaction, the insider now owns 70,040 shares of the company’s stock, valued at approximately $2,531,245.60. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.
Synchrony Financial Profile
Synchrony Financial engages in the provision of consumer financial services. The firm is also involved in managing credit products through the following sales platforms: Home and Auto, Digital, Diversified and Value, Health and Wellness, and Lifestyle. The company was founded on September 12, 2003 and is headquartered in Stamford, CT.
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