Jupiter Asset Management Ltd. bought a new stake in shares of Synchrony Financial (NYSE:SYF) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 330,874 shares of the financial services provider’s stock, valued at approximately $13,453,000. Jupiter Asset Management Ltd. owned 0.06% of Synchrony Financial as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also bought and sold shares of the company. rhino investment partners Inc bought a new position in shares of Synchrony Financial during the 4th quarter worth approximately $4,964,000. Boston Partners lifted its holdings in shares of Synchrony Financial by 8.7% in the 1st quarter. Boston Partners now owns 4,241,970 shares of the financial services provider’s stock worth $172,479,000 after purchasing an additional 339,623 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Synchrony Financial by 8.4% in the 1st quarter. BlackRock Inc. now owns 44,786,257 shares of the financial services provider’s stock worth $1,821,008,000 after purchasing an additional 3,460,644 shares in the last quarter. Boston Private Wealth LLC lifted its holdings in shares of Synchrony Financial by 4.0% in the 1st quarter. Boston Private Wealth LLC now owns 64,359 shares of the financial services provider’s stock worth $2,617,000 after purchasing an additional 2,452 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in shares of Synchrony Financial by 11.6% in the 1st quarter. Fulton Bank N.A. now owns 6,550 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 679 shares in the last quarter. Hedge funds and other institutional investors own 90.59% of the company’s stock.
In related news, insider David P. Melito sold 2,205 shares of Synchrony Financial stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $42.16, for a total value of $92,962.80. Following the completion of the sale, the insider now owns 17,342 shares of the company’s stock, valued at approximately $731,138.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.44% of the company’s stock.
Shares of Synchrony Financial stock opened at $48.99 on Friday. Synchrony Financial has a 1 year low of $21.04 and a 1 year high of $50.96. The stock has a market cap of $28.49 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.36 and a beta of 1.84. The company’s fifty day simple moving average is $44.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.19.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, April 27th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.23. Synchrony Financial had a return on equity of 18.81% and a net margin of 13.57%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the firm posted $0.58 EPS. As a group, equities analysts forecast that Synchrony Financial will post 5.63 EPS for the current fiscal year.
Synchrony Financial announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 25th that permits the company to repurchase $2.90 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 13th. Investors of record on Monday, May 3rd were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, April 30th. Synchrony Financial’s dividend payout ratio (DPR) is currently 33.85%.
Synchrony Financial Profile
Synchrony Financial operates as a consumer financial services company in the United States. It provides a range of specialized financing programs and consumer banking products to digital, retail, home, auto, travel, health, and pet industries. The company also 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, dual cards, and installment loans.
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