Raymond James Financial Services Advisors Inc. raised its holdings in shares of Synchrony Financial (NYSE:SYF) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 513,815 shares of the financial services provider’s stock after purchasing an additional 47,428 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Synchrony Financial were worth $19,838,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Flossbach Von Storch AG bought a new position in Synchrony Financial during the 4th quarter valued at approximately $202,000. TRUE Private Wealth Advisors bought a new position in Synchrony Financial during the 4th quarter valued at approximately $204,000. Raymond James Trust N.A. bought a new position in Synchrony Financial during the 4th quarter valued at approximately $218,000. Capital Asset Advisory Services LLC bought a new position in Synchrony Financial during the 4th quarter valued at approximately $219,000. Finally, Wealthstreet Investment Advisors LLC bought a new position in Synchrony Financial during the 4th quarter valued at approximately $232,000. 86.29% of the stock is owned by institutional investors and hedge funds.
In related news, insider David P. Melito sold 2,580 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total transaction of $90,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Melito sold 1,881 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $38.00, for a total value of $71,478.00. Following the transaction, the insider now directly owns 43,140 shares of the company’s stock, valued at approximately $1,639,320. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,599 shares of company stock valued at $723,943. 0.03% of the stock is owned by corporate insiders.
Synchrony Financial (SYF) opened at $36.73 on Friday. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $40.59. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.47 and a current ratio of 1.45. The firm has a market capitalization of $28,300.46, a P/E ratio of 15.24, a P/E/G ratio of 1.42 and a beta of 1.01.
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, beating the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the company earned $0.70 EPS. equities analysts forecast that Synchrony Financial will post 3.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Friday, February 2nd. Synchrony Financial’s dividend payout ratio (DPR) is presently 24.90%.
A number of research firms have commented on SYF. Zacks Investment Research raised Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Wednesday, January 31st. Barclays set a $53.00 target price on Synchrony Financial and gave the stock a “buy” rating in a research report on Monday, January 22nd. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research report on Monday, January 22nd. Wells Fargo & Co raised Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Tuesday, January 9th. Finally, Jefferies Group reissued a “buy” rating and issued a $44.00 target price on shares of Synchrony Financial in a research report on Tuesday, December 26th. Nine equities research 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 stock has an average rating of “Buy” and an average price target of $38.30.
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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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