Sterling Capital Management LLC trimmed its holdings in shares of Synchrony Financial (NYSE:SYF) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,404,543 shares of the financial services provider’s stock after selling 7,334 shares during the period. Sterling Capital Management LLC owned about 0.18% of Synchrony Financial worth $43,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Synchrony Financial by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock worth $1,557,609,000 after acquiring an additional 956,331 shares in the last quarter. FMR LLC boosted its holdings in shares of Synchrony Financial by 27.1% in the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after buying an additional 7,874,689 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Synchrony Financial by 2.1% in the 3rd quarter. First Eagle Investment Management LLC now owns 17,666,015 shares of the financial services provider’s stock valued at $548,530,000 after buying an additional 362,810 shares in the last quarter. Berkshire Hathaway Inc. bought a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $520,747,000. Finally, CI Investments Inc. boosted its holdings in shares of Synchrony Financial by 7.5% in the 3rd quarter. CI Investments Inc. now owns 10,960,562 shares of the financial services provider’s stock valued at $340,325,000 after buying an additional 766,368 shares in the last quarter. Institutional investors own 85.77% of the company’s stock.
In other Synchrony Financial news, insider David P. Melito sold 1,881 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $38.00, for a total transaction of $71,478.00. Following the completion of the transaction, the insider now directly owns 43,140 shares of the company’s stock, valued at approximately $1,639,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David P. Melito sold 2,580 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total transaction of $90,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,961 shares of company stock valued at $244,508 over the last three months. 0.03% of the stock is currently owned by insiders.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. During the same period last year, the business earned $0.73 EPS. sell-side analysts anticipate that Synchrony Financial will post 2.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Friday, November 3rd. Synchrony Financial’s dividend payout ratio is presently 22.90%.
A number of analysts have recently weighed in on SYF shares. Jefferies Group raised their price target on shares of Synchrony Financial to $44.00 and gave the company a “top pick” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods restated a “buy” rating and issued a $39.00 price target on shares of Synchrony Financial in a report on Thursday, October 12th. Wedbush set a $41.00 price target on shares of Synchrony Financial and gave the company a “hold” rating in a report on Monday. Wells Fargo & Company started coverage on shares of Synchrony Financial in a report on Tuesday, October 10th. They issued a “market perform” rating and a $33.00 price target on the stock. Finally, BidaskClub upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $37.88.
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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