Rockefeller Capital Management L.P. Takes $92.40 Million Position in Synchrony Financial (SYF)

Rockefeller Capital Management L.P. acquired a new stake in Synchrony Financial (NYSE:SYF) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,755,812 shares of the financial services provider’s stock, valued at approximately $92,403,000. Synchrony Financial comprises 1.5% of Rockefeller Capital Management L.P.’s holdings, making the stock its 19th biggest position. Rockefeller Capital Management L.P. owned approximately 0.37% of Synchrony Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Haverford Trust Co. lifted its stake in Synchrony Financial by 236.7% in the first quarter. Haverford Trust Co. now owns 23,935 shares of the financial services provider’s stock valued at $803,000 after buying an additional 16,826 shares during the last quarter. Bamco Inc. NY lifted its stake in Synchrony Financial by 11.3% in the first quarter. Bamco Inc. NY now owns 85,623 shares of the financial services provider’s stock valued at $2,871,000 after buying an additional 8,718 shares during the last quarter. Haverford Financial Services Inc. lifted its stake in Synchrony Financial by 75.3% in the first quarter. Haverford Financial Services Inc. now owns 21,900 shares of the financial services provider’s stock valued at $734,000 after buying an additional 9,410 shares during the last quarter. Willingdon Wealth Management lifted its stake in Synchrony Financial by 5.8% in the first quarter. Willingdon Wealth Management now owns 99,292 shares of the financial services provider’s stock valued at $3,329,000 after buying an additional 5,438 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Synchrony Financial by 2.8% in the first quarter. US Bancorp DE now owns 82,377 shares of the financial services provider’s stock valued at $2,762,000 after purchasing an additional 2,222 shares during the period. Institutional investors own 89.93% of the company’s stock.

Shares of Synchrony Financial opened at $35.44 on Friday, Marketbeat reports. Synchrony Financial has a 1-year low of $26.34 and a 1-year high of $40.59. The firm has a market cap of $26.75 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.13. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.46.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, April 20th. The financial services provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.09. Synchrony Financial had a return on equity of 15.60% and a net margin of 12.36%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. equities analysts predict that Synchrony Financial will post 3.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 17th. Investors of record on Monday, May 7th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Friday, May 4th. Synchrony Financial’s dividend payout ratio is presently 22.90%.

A number of research analysts have recently issued reports on the company. Morgan Stanley dropped their target price on Synchrony Financial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, April 30th. ValuEngine lowered Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, April 23rd. Citigroup assumed coverage on Synchrony Financial in a report on Thursday, April 5th. They issued a “neutral” rating and a $37.00 target price on the stock. Zacks Investment Research raised Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, January 31st. Finally, Buckingham Research assumed coverage on Synchrony Financial in a report on Wednesday, March 14th. They issued a “buy” rating and a $42.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $40.69.

In other Synchrony Financial news, insider Paul Whynott sold 1,750 shares of the company’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $33.27, for a total value of $58,222.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Neeraj Mehta sold 2,299 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $32.69, for a total value of $75,154.31. Following the completion of the sale, the insider now directly owns 65,867 shares in the company, valued at approximately $2,153,192.23. The disclosure for this sale can be found here. Insiders have sold 14,761 shares of company stock worth $526,829 in the last ninety days. 0.07% of the stock is currently owned by corporate insiders.

Synchrony Financial Company Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company 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 and installment loans.

Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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