Lipe & Dalton reduced its position in Synchrony Financial (NYSE:SYF) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,934 shares of the financial services provider’s stock after selling 2,969 shares during the quarter. Synchrony Financial comprises approximately 2.5% of Lipe & Dalton’s investment portfolio, making the stock its 17th biggest holding. Lipe & Dalton’s holdings in Synchrony Financial were worth $3,665,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kiley Juergens Wealth Management LLC lifted its stake in shares of Synchrony Financial by 17.0% during the second quarter. Kiley Juergens Wealth Management LLC now owns 10,722 shares of the financial services provider’s stock worth $357,000 after buying an additional 1,555 shares during the period. Bank Hapoalim BM lifted its stake in shares of Synchrony Financial by 4.9% during the second quarter. Bank Hapoalim BM now owns 34,618 shares of the financial services provider’s stock worth $1,156,000 after buying an additional 1,605 shares during the period. Alps Advisors Inc. lifted its stake in shares of Synchrony Financial by 4.2% during the second quarter. Alps Advisors Inc. now owns 42,942 shares of the financial services provider’s stock worth $1,433,000 after buying an additional 1,741 shares during the period. United Asset Strategies Inc. lifted its stake in shares of Synchrony Financial by 17.6% during the second quarter. United Asset Strategies Inc. now owns 12,912 shares of the financial services provider’s stock worth $431,000 after buying an additional 1,937 shares during the period. Finally, Dupont Capital Management Corp lifted its stake in shares of Synchrony Financial by 39.0% during the second quarter. Dupont Capital Management Corp now owns 7,140 shares of the financial services provider’s stock worth $238,000 after buying an additional 2,005 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on SYF. ValuEngine upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 14th. UBS Group upgraded shares of Synchrony Financial from a “sell” rating to a “neutral” rating and boosted their target price for the company from $32.00 to $33.00 in a research report on Friday, August 3rd. Barclays downgraded shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $53.00 to $32.00 in a research report on Monday, July 30th. Compass Point restated a “buy” rating and set a $39.00 target price on shares of Synchrony Financial in a research report on Monday, July 30th. Finally, BMO Capital Markets boosted their target price on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Synchrony Financial presently has an average rating of “Hold” and an average price target of $37.06.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, October 19th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Synchrony Financial had a net margin of 13.70% and a return on equity of 17.90%. During the same quarter in the previous year, the company earned $0.70 earnings per share. As a group, equities analysts anticipate that Synchrony Financial will post 3.5 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.13%. Synchrony Financial’s dividend payout ratio is currently 32.06%.
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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.
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