Westchester Capital Management Inc. lessened its holdings in Synchrony Financial (NYSE:SYF) by 98.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,388 shares of the financial services provider’s stock after selling 224,827 shares during the quarter. Westchester Capital Management Inc.’s holdings in Synchrony Financial were worth $81,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Scotia Capital Inc. boosted its holdings in shares of Synchrony Financial by 0.3% during the 2nd quarter. Scotia Capital Inc. now owns 101,134 shares of the financial services provider’s stock valued at $3,507,000 after acquiring an additional 318 shares in the last quarter. FDx Advisors Inc. raised its position in Synchrony Financial by 4.5% during the 2nd quarter. FDx Advisors Inc. now owns 7,503 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 325 shares during the last quarter. Signaturefd LLC raised its position in Synchrony Financial by 12.9% during the 2nd quarter. Signaturefd LLC now owns 2,893 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 331 shares during the last quarter. Atlas Capital Advisors LLC raised its position in Synchrony Financial by 3.1% during the 3rd quarter. Atlas Capital Advisors LLC now owns 12,206 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 369 shares during the last quarter. Finally, Grove Bank & Trust raised its position in Synchrony Financial by 5.4% during the 2nd quarter. Grove Bank & Trust now owns 7,619 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 390 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SYF stock traded down $0.02 during mid-day trading on Friday, hitting $36.94. The company’s stock had a trading volume of 3,898,564 shares, compared to its average volume of 5,632,108. The company’s fifty day simple moving average is $34.24 and its 200-day simple moving average is $34.30. Synchrony Financial has a 52 week low of $21.77 and a 52 week high of $37.33. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.26 and a current ratio of 1.38. The company has a market cap of $23.88 billion, a PE ratio of 9.88, a P/E/G ratio of 0.91 and a beta of 1.16.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.10. Synchrony Financial had a return on equity of 20.05% and a net margin of 19.54%. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the company posted $0.91 EPS. On average, equities analysts anticipate that Synchrony Financial will post 4.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, November 1st. Synchrony Financial’s dividend payout ratio (DPR) is presently 23.53%.
Several research analysts recently issued reports on the company. Nomura set a $43.00 target price on Synchrony Financial and gave the stock a “buy” rating in a research report on Monday, October 21st. ValuEngine lowered Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BMO Capital Markets set a $43.00 target price on Synchrony Financial and gave the stock a “buy” rating in a research report on Sunday, July 21st. BTIG Research reaffirmed a “buy” rating and set a $42.00 target price on shares of Synchrony Financial in a research report on Monday, July 22nd. Finally, Buckingham Research assumed coverage on Synchrony Financial in a research report on Monday, July 22nd. They set a “buy” rating and a $42.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $38.92.
In other news, Director Will W. Graylin sold 7,500 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $33.71, for a total value of $252,825.00. Following the completion of the sale, the director now directly owns 76,662 shares in the company, valued at approximately $2,584,276.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.32% of the company’s stock.
About Synchrony Financial
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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