Pictet Asset Management Ltd. decreased its stake in shares of Synchrony Financial (NYSE:SYF) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 356,556 shares of the financial services provider’s stock after selling 28,600 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Synchrony Financial were worth $11,082,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Alps Advisors Inc. raised its stake in Synchrony Financial by 4.2% during the second quarter. Alps Advisors Inc. now owns 42,942 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 1,741 shares during the last quarter. United Asset Strategies Inc. raised its stake in Synchrony Financial by 17.6% during the second quarter. United Asset Strategies Inc. now owns 12,912 shares of the financial services provider’s stock valued at $431,000 after buying an additional 1,937 shares during the last quarter. Dupont Capital Management Corp raised its stake in Synchrony Financial by 39.0% during the second quarter. Dupont Capital Management Corp now owns 7,140 shares of the financial services provider’s stock valued at $238,000 after buying an additional 2,005 shares during the last quarter. TD Asset Management Inc. raised its stake in Synchrony Financial by 0.9% during the second quarter. TD Asset Management Inc. now owns 237,869 shares of the financial services provider’s stock valued at $7,940,000 after buying an additional 2,095 shares during the last quarter. Finally, Assetmark Inc. raised its stake in Synchrony Financial by 98.1% during the second quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock valued at $144,000 after buying an additional 2,143 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.
Synchrony Financial stock opened at $25.14 on Friday. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 0.67 and a beta of 1.02. Synchrony Financial has a 12 month low of $24.51 and a 12 month high of $40.59. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.40 and a quick ratio of 1.40.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, October 19th. The financial services provider reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.11. Synchrony Financial had a return on equity of 17.90% and a net margin of 13.70%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. Equities research analysts forecast that Synchrony Financial will post 3.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 5th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, November 2nd. Synchrony Financial’s payout ratio is currently 32.06%.
SYF has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on Synchrony Financial from $35.00 to $32.00 and set an “equal weight” rating for the company in a research note on Monday, November 5th. ValuEngine lowered Synchrony Financial from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Stephens lowered Synchrony Financial from an “equal weight” rating to a “sell” rating and set a $26.00 target price for the company. in a report on Friday, November 2nd. Zacks Investment Research raised Synchrony Financial from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Monday, October 8th. Finally, Citigroup reduced their target price on Synchrony Financial from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $37.06.
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Synchrony Financial Company 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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