Alyeska Investment Group L.P. boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 843.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 396,889 shares of the financial services provider’s stock after purchasing an additional 354,820 shares during the period. Alyeska Investment Group L.P. owned 0.05% of Synchrony Financial worth $12,323,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. lifted its position in shares of Synchrony Financial by 32.1% in the second quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after buying an additional 867 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Synchrony Financial by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after buying an additional 486 shares during the last quarter. Highlander Capital Management LLC lifted its position in shares of Synchrony Financial by 83.6% in the second quarter. Highlander Capital Management LLC now owns 5,492 shares of the financial services provider’s stock valued at $165,000 after buying an additional 2,500 shares during the last quarter. Sun Life Financial INC lifted its position in shares of Synchrony Financial by 40,207.1% in the second quarter. Sun Life Financial INC now owns 5,643 shares of the financial services provider’s stock valued at $168,000 after buying an additional 5,629 shares during the last quarter. Finally, SpiderRock Advisors LLC acquired a new stake in shares of Synchrony Financial in the third quarter valued at approximately $176,000. 85.77% of the stock is owned by hedge funds and other institutional investors.
In other Synchrony Financial news, insider David P. Melito sold 1,881 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $38.00, for a total transaction of $71,478.00. Following the transaction, the insider now owns 43,140 shares in the company, valued at approximately $1,639,320. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 1,500 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $32.82, for a total value of $49,230.00. Following the transaction, the insider now owns 113,934 shares in the company, valued at approximately $3,739,313.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,961 shares of company stock worth $244,508. Corporate insiders own 0.03% of the company’s stock.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company earned $0.73 EPS. equities analysts expect that Synchrony Financial will post 2.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 6th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.60%. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.90%.
SYF has been the subject of a number of recent analyst reports. Morgan Stanley cut Synchrony Financial from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $35.00 to $32.00 in a research report on Friday, September 8th. Bank of America cut Synchrony Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $33.00 in a research report on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research report on Thursday, October 12th. Jefferies Group raised their price objective on Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research report on Friday, December 1st. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research report on Friday, August 25th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $37.35.
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Synchrony Financial Company 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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