Teacher Retirement System of Texas decreased its stake in shares of Synchrony Financial (NYSE:SYF) by 1.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,356,881 shares of the financial services provider’s stock after selling 33,029 shares during the period. Teacher Retirement System of Texas owned 0.30% of Synchrony Financial worth $73,181,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of SYF. Berkshire Hathaway Inc. bought a new position in Synchrony Financial in the 2nd quarter worth about $520,747,000. Janus Henderson Group PLC increased its stake in Synchrony Financial by 1,820.5% in the 2nd quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock worth $326,070,000 after acquiring an additional 10,365,219 shares during the last quarter. FMR LLC increased its stake in Synchrony Financial by 27.1% in the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock worth $1,102,267,000 after acquiring an additional 7,874,689 shares during the last quarter. Capital World Investors bought a new position in Synchrony Financial in the 2nd quarter worth about $202,269,000. Finally, Boston Partners increased its stake in Synchrony Financial by 39.3% in the 2nd quarter. Boston Partners now owns 12,891,959 shares of the financial services provider’s stock worth $384,439,000 after acquiring an additional 3,637,487 shares during the last quarter. 88.32% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Synchrony Financial (NYSE SYF) traded down $0.02 during trading hours on Monday, reaching $32.07. The company’s stock had a trading volume of 2,669,600 shares, compared to its average volume of 7,004,066. The stock has a market capitalization of $25,460.00, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. Synchrony Financial has a 1-year low of $26.01 and a 1-year high of $38.06. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.38.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.06. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. During the same quarter in the previous year, the business earned $0.73 earnings per share. sell-side analysts predict that Synchrony Financial will post 2.6 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, November 3rd. Synchrony Financial’s payout ratio is 22.81%.
Several equities analysts have recently commented on the company. JMP Securities increased their price objective on Synchrony Financial from $35.00 to $37.00 and gave the company a “market outperform” rating in a research report on Monday, October 23rd. Bank of America Corporation lowered Synchrony Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $33.00 in a research report on Friday, October 6th. Wells Fargo & Company increased their price objective on Synchrony Financial from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Morgan Stanley lowered Synchrony Financial from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $35.00 to $32.00 in a research report on Friday, September 8th. Finally, Zacks Investment Research lowered Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $36.77.
In other Synchrony Financial news, insider Jonathan S. Mothner sold 1,500 shares of Synchrony Financial 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 completion of the sale, the insider now owns 113,934 shares of the company’s stock, valued at approximately $3,739,313.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 1,000 shares of Synchrony Financial stock in a transaction on Friday, October 20th. The stock was sold at an average price of $33.50, for a total value of $33,500.00. Following the completion of the sale, the insider now directly owns 113,578 shares of the company’s stock, valued at approximately $3,804,863. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.
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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