BTC Capital Management Inc. Acquires 16,679 Shares of Synchrony Financial (SYF)

BTC Capital Management Inc. increased its holdings in shares of Synchrony Financial (NYSE:SYF) by 37.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,923 shares of the financial services provider’s stock after buying an additional 16,679 shares during the period. BTC Capital Management Inc.’s holdings in Synchrony Financial were worth $2,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CI Investments Inc. raised its stake in shares of Synchrony Financial by 6.5% during the fourth quarter. CI Investments Inc. now owns 11,674,795 shares of the financial services provider’s stock worth $450,764,000 after buying an additional 714,233 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in Synchrony Financial by 6.4% during 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. Caisse DE Depot ET Placement DU Quebec grew its holdings in Synchrony Financial by 14.7% during 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. Amundi Pioneer Asset Management Inc. grew its holdings in Synchrony Financial by 108.3% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,032,094 shares of the financial services provider’s stock valued at $155,677,000 after purchasing an additional 2,096,626 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Synchrony Financial by 77.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,905,286 shares of the financial services provider’s stock valued at $130,943,000 after purchasing an additional 1,699,021 shares during the period. 86.74% of the stock is owned by institutional investors and hedge funds.

SYF has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Wednesday, January 31st. Buckingham Research initiated coverage on shares of Synchrony Financial in a report on Wednesday, March 14th. They set a “buy” rating and a $42.00 price objective for the company. UBS initiated coverage on shares of Synchrony Financial in a report on Tuesday, March 27th. They set a “sell” rating and a $32.00 price objective for the company. ValuEngine cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Citigroup initiated coverage on shares of Synchrony Financial in a report on Thursday, April 5th. They set a “neutral” rating and a $37.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.69.

In other news, insider Paul Whynott sold 1,750 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $33.27, for a total value of $58,222.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Neeraj Mehta sold 2,299 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $32.69, for a total transaction of $75,154.31. Following the completion of the transaction, the insider now owns 65,867 shares of the company’s stock, valued at approximately $2,153,192.23. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

Synchrony Financial stock opened at $36.11 on Wednesday. The company has a market capitalization of $26.75 billion, a PE ratio of 13.78, a P/E/G ratio of 1.17 and a beta of 1.13. Synchrony Financial has a twelve month low of $26.34 and a twelve month high of $40.59. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.46.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, April 20th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Synchrony Financial had a net margin of 12.36% and a return on equity of 15.60%. During the same quarter in the prior year, the company earned $0.61 earnings per share. equities research analysts predict that Synchrony Financial will post 3.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 17th. Stockholders of record on Monday, May 7th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Friday, May 4th. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.90%.

Synchrony Financial Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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