Aberdeen Asset Management PLC UK lifted its holdings in Synchrony Financial (NYSE:SYF) by 233.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792,853 shares of the financial services provider’s stock after buying an additional 554,959 shares during the quarter. Aberdeen Asset Management PLC UK owned 0.10% of Synchrony Financial worth $23,643,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of SYF. First Quadrant L P CA boosted its stake in shares of Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after buying an additional 1,328 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Synchrony Financial by 41.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,280 shares of the financial services provider’s stock valued at $113,000 after buying an additional 965 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Synchrony Financial in the first quarter valued at approximately $152,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Synchrony Financial by 28.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,901 shares of the financial services provider’s stock valued at $168,000 after buying an additional 1,077 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Synchrony Financial by 7.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,875 shares of the financial services provider’s stock valued at $202,000 after buying an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.
A number of research firms recently weighed in on SYF. Morgan Stanley restated an “overweight” rating and issued a $35.00 price target (up from $33.00) on shares of Synchrony Financial in a research note on Tuesday, July 25th. TheStreet upgraded Synchrony Financial from a “c” rating to a “b” rating in a research report on Monday, July 31st. BTIG Research reiterated a “buy” rating and set a $36.00 target price on shares of Synchrony Financial in a research report on Wednesday, May 24th. ValuEngine upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research upgraded Synchrony Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Synchrony Financial currently has a consensus rating of “Buy” and a consensus target price of $37.42.
Shares of Synchrony Financial (NYSE SYF) opened at 28.55 on Monday. Synchrony Financial has a 52 week low of $26.01 and a 52 week high of $38.06. The firm’s 50-day moving average price is $30.20 and its 200 day moving average price is $30.93. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 10.72 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the company earned $0.58 earnings per share. On average, analysts anticipate that Synchrony Financial will post $2.60 EPS for the current year.
Synchrony Financial declared that its board has authorized a stock buyback plan on Thursday, May 18th that authorizes the company to buyback $1.64 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 7th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.10%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, August 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 22.64%.
In other news, Director Paget Leonard Alves acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the completion of the acquisition, the director now owns 8,521 shares in the company, valued at $262,872.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.03% of the stock is currently owned by company insiders.
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Synchrony Financial Profile
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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