Franklin Resources Inc. lowered its position in Synchrony Financial (NYSE:SYF) by 16.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 871,466 shares of the financial services provider’s stock after selling 175,190 shares during the period. Franklin Resources Inc.’s holdings in Synchrony Financial were worth $33,647,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC grew its holdings in shares of Synchrony Financial by 4.5% in the 4th quarter. Harbour Capital Advisors LLC now owns 32,630 shares of the financial services provider’s stock worth $1,260,000 after acquiring an additional 1,405 shares during the period. BB&T Corp grew its holdings in Synchrony Financial by 4.5% during the 4th quarter. BB&T Corp now owns 33,086 shares of the financial services provider’s stock valued at $1,277,000 after buying an additional 1,417 shares during the last quarter. Carnick & Kubik Group LLC grew its holdings in Synchrony Financial by 3.7% during the 4th quarter. Carnick & Kubik Group LLC now owns 41,991 shares of the financial services provider’s stock valued at $1,621,000 after buying an additional 1,509 shares during the last quarter. Westchester Capital Management Inc. grew its holdings in Synchrony Financial by 0.6% during the 4th quarter. Westchester Capital Management Inc. now owns 252,146 shares of the financial services provider’s stock valued at $9,735,000 after buying an additional 1,515 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Synchrony Financial by 8.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,536 shares of the financial services provider’s stock valued at $607,000 after buying an additional 1,571 shares during the last quarter. Institutional investors and hedge funds own 88.63% of the company’s stock.
SYF stock opened at $35.40 on Wednesday. Synchrony Financial has a 52 week low of $26.01 and a 52 week high of $40.59. The firm has a market capitalization of $26,805.25, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.36 and a beta of 1.07. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.46.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the company posted $0.70 EPS. sell-side analysts expect that Synchrony Financial will post 3.39 earnings per share for the current year.
A number of brokerages have commented on SYF. Buckingham Research began coverage on Synchrony Financial in a report on Wednesday, March 14th. They set a “buy” rating and a $42.00 target price on the stock. Zacks Investment Research cut Synchrony Financial from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Barclays set a $53.00 target price on Synchrony Financial and gave the company a “buy” rating in a report on Monday, January 22nd. Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a report on Monday, January 22nd. Finally, Wells Fargo upgraded Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Tuesday, January 9th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $38.32.
In other Synchrony Financial news, insider Margaret M. Keane sold 13,138 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $36.70, for a total transaction of $482,164.60. Following the transaction, the insider now owns 440,169 shares of the company’s stock, valued at approximately $16,154,202.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David P. Melito sold 2,000 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the transaction, the insider now directly owns 39,259 shares in the company, valued at $1,570,360. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,850 shares of company stock worth $955,616. Corporate insiders own 0.03% of the company’s stock.
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About Synchrony Financial
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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