Wedbush Securities Inc. boosted its position in shares of Synchrony Financial (NYSE:SYF) by 25.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,910 shares of the financial services provider’s stock after purchasing an additional 3,052 shares during the period. Wedbush Securities Inc.’s holdings in Synchrony Financial were worth $498,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of SYF. Sei Investments Co. boosted its position in Synchrony Financial by 9.9% in the 2nd quarter. Sei Investments Co. now owns 81,534 shares of the financial services provider’s stock valued at $2,721,000 after buying an additional 7,356 shares during the period. Sather Financial Group Inc boosted its position in Synchrony Financial by 27.8% in the 2nd quarter. Sather Financial Group Inc now owns 362,211 shares of the financial services provider’s stock valued at $12,091,000 after buying an additional 78,719 shares during the period. Willingdon Wealth Management boosted its position in Synchrony Financial by 4.3% in the 2nd quarter. Willingdon Wealth Management now owns 103,587 shares of the financial services provider’s stock valued at $3,458,000 after buying an additional 4,295 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Synchrony Financial in the 2nd quarter valued at about $2,479,000. Finally, KBC Group NV boosted its position in Synchrony Financial by 170.4% in the 2nd quarter. KBC Group NV now owns 1,401,914 shares of the financial services provider’s stock valued at $46,796,000 after buying an additional 883,517 shares during the period. Institutional investors own 86.88% of the company’s stock.
In other news, insider David P. Melito sold 2,094 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $35.60, for a total value of $74,546.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roy A. Guthrie purchased 10,000 shares of the stock in a transaction dated Monday, July 30th. The stock was acquired at an average cost of $29.53 per share, with a total value of $295,300.00. Following the transaction, the director now directly owns 47,997 shares in the company, valued at approximately $1,417,351.41. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by corporate insiders.
Shares of SYF opened at $29.41 on Friday. Synchrony Financial has a fifty-two week low of $28.33 and a fifty-two week high of $40.59. The company has a market capitalization of $22.21 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 0.86 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.10. Synchrony Financial had a net margin of 13.39% and a return on equity of 16.96%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the company earned $0.61 EPS. research analysts expect that Synchrony Financial will post 3.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 16th. Stockholders of record on Monday, August 6th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, August 3rd. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.15. Synchrony Financial’s dividend payout ratio is presently 32.06%.
Several equities research analysts have issued reports on the stock. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research report on Monday, August 6th. UBS Group raised shares of Synchrony Financial from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $32.00 to $33.00 in a research report on Friday, August 3rd. ValuEngine cut shares of Synchrony Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 1st. Compass Point reissued a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research report on Monday, July 30th. Finally, BMO Capital Markets lowered their price objective on shares of Synchrony Financial from $51.00 to $37.00 and set an “outperform” rating for the company in a research report on Monday, July 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $38.44.
About Synchrony Financial
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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