Bessemer Group Inc. reduced its position in Synchrony Financial (NYSE:SYF – Free Report) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,644 shares of the financial services provider’s stock after selling 1,519 shares during the quarter. Bessemer Group Inc.’s holdings in Synchrony Financial were worth $1,065,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of SYF. Live Oak Investment Partners bought a new stake in shares of Synchrony Financial in the 4th quarter valued at $27,000. TCI Wealth Advisors Inc. boosted its stake in shares of Synchrony Financial by 41.9% in the 4th quarter. TCI Wealth Advisors Inc. now owns 935 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 276 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Synchrony Financial in the 1st quarter valued at $39,000. Spire Wealth Management boosted its stake in shares of Synchrony Financial by 47.8% in the 1st quarter. Spire Wealth Management now owns 1,357 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 439 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 644 shares during the last quarter. 92.50% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on SYF. Morgan Stanley reiterated an “underweight” rating and set a $29.00 target price (up previously from $28.00) on shares of Synchrony Financial in a research report on Wednesday, July 19th. JMP Securities reiterated a “market outperform” rating and set a $42.00 target price on shares of Synchrony Financial in a research report on Friday, July 14th. Bank of America boosted their target price on shares of Synchrony Financial from $37.00 to $38.00 in a research report on Monday, June 12th. Oppenheimer downgraded shares of Synchrony Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 14th. Finally, StockNews.com downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.00.
Insider Transactions at Synchrony Financial
In related news, insider Brian D. Doubles sold 36,610 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $34.50, for a total value of $1,263,045.00. Following the sale, the insider now directly owns 565,240 shares of the company’s stock, valued at $19,500,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Brian D. Doubles sold 36,610 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $34.50, for a total value of $1,263,045.00. Following the transaction, the insider now owns 565,240 shares in the company, valued at $19,500,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David P. Melito sold 15,015 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $525,525.00. Following the completion of the transaction, the insider now owns 13,960 shares in the company, valued at approximately $488,600. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Synchrony Financial Stock Performance
Shares of SYF stock opened at $32.92 on Tuesday. The firm has a 50-day moving average of $34.14 and a 200-day moving average of $32.30. The company has a market cap of $13.77 billion, a P/E ratio of 6.10, a P/E/G ratio of 1.50 and a beta of 1.60. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.20 and a quick ratio of 1.20. Synchrony Financial has a one year low of $26.59 and a one year high of $40.88.
Synchrony Financial (NYSE:SYF – Get Free Report) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.10 billion. Synchrony Financial had a net margin of 12.90% and a return on equity of 19.79%. During the same quarter in the prior year, the business earned $1.60 earnings per share. Equities research analysts forecast that Synchrony Financial will post 5.01 EPS for the current fiscal year.
Synchrony Financial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Monday, July 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, July 28th. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.23. Synchrony Financial’s dividend payout ratio (DPR) is currently 18.52%.
Synchrony Financial declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Synchrony Financial Profile
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual cards, co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.
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