FMR LLC decreased its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 964,583 shares of the financial services provider's stock after selling 99,280 shares during the period. FMR LLC owned 0.25% of Synchrony Financial worth $48,113,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SYF. Los Angeles Capital Management LLC lifted its position in Synchrony Financial by 402.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,520,209 shares of the financial services provider's stock worth $71,739,000 after acquiring an additional 1,217,872 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Synchrony Financial by 14.6% during the 2nd quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider's stock worth $264,917,000 after purchasing an additional 727,649 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Synchrony Financial by 400.2% during the 2nd quarter. Acadian Asset Management LLC now owns 842,539 shares of the financial services provider's stock worth $39,751,000 after purchasing an additional 674,093 shares during the period. Candriam S.C.A. increased its holdings in shares of Synchrony Financial by 1,043.9% during the 2nd quarter. Candriam S.C.A. now owns 655,173 shares of the financial services provider's stock worth $30,916,000 after purchasing an additional 597,900 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Synchrony Financial by 589.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 644,203 shares of the financial services provider's stock worth $32,133,000 after purchasing an additional 550,750 shares during the period. Institutional investors and hedge funds own 96.48% of the company's stock.
Synchrony Financial Trading Up 1.5 %
SYF stock traded up $1.00 during midday trading on Friday, reaching $67.92. The company's stock had a trading volume of 3,423,147 shares, compared to its average volume of 3,582,129. The business's 50-day simple moving average is $59.42 and its 200-day simple moving average is $51.31. The stock has a market cap of $26.44 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 0.92 and a beta of 1.63. Synchrony Financial has a 52 week low of $34.42 and a 52 week high of $69.00. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.
Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.17. The company had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.48 earnings per share. As a group, sell-side analysts expect that Synchrony Financial will post 6.52 EPS for the current year.
Synchrony Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. Synchrony Financial's payout ratio is 13.05%.
Insider Buying and Selling
In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on SYF shares. The Goldman Sachs Group boosted their price objective on shares of Synchrony Financial from $64.00 to $72.50 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Robert W. Baird set a $62.00 price objective on shares of Synchrony Financial in a report on Thursday, October 17th. JMP Securities reissued a "market outperform" rating and issued a $60.00 target price on shares of Synchrony Financial in a research note on Monday, October 14th. Royal Bank of Canada increased their price target on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group increased their price target on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Synchrony Financial has an average rating of "Moderate Buy" and a consensus price target of $58.68.
Check Out Our Latest Research Report on Synchrony Financial
Synchrony Financial Company Profile
(
Free Report)
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.
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