Hosking Partners LLP increased its position in Synchrony Financial (NYSE:SYF) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,601,677 shares of the financial services provider’s stock after purchasing an additional 7,095 shares during the period. Synchrony Financial makes up approximately 1.3% of Hosking Partners LLP’s holdings, making the stock its 21st biggest position. Hosking Partners LLP owned 0.20% of Synchrony Financial worth $49,732,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Westside Investment Management Inc. increased its position in shares of Synchrony Financial by 32.1% during the 2nd quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 867 shares during the last quarter. First Quadrant L P CA increased its holdings in Synchrony Financial by 55.4% in the 2nd quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 1,328 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Synchrony Financial by 39.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 1,280 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Synchrony Financial by 19.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 880 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Synchrony Financial by 9.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 486 shares in the last quarter. Institutional investors own 85.77% of the company’s stock.
Shares of Synchrony Financial (NYSE:SYF) traded down $0.14 during mid-day trading on Wednesday, reaching $37.31. The company had a trading volume of 8,227,400 shares, compared to its average volume of 7,061,038. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. The company has a market capitalization of $29,308.06, a P/E ratio of 14.29, a P/E/G ratio of 1.89 and a beta of 1.06. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.47 and a current ratio of 1.47.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.61%. The ex-dividend date was Friday, November 3rd. Synchrony Financial’s dividend payout ratio is presently 22.90%.
Several research firms have weighed in on SYF. BMO Capital Markets restated a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research note on Friday, August 25th. BidaskClub upgraded Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $35.00 to $32.00 in a research report on Friday, September 8th. Jefferies Group reiterated a “buy” rating and set a $40.00 target price on shares of Synchrony Financial in a research report on Thursday, September 21st. Finally, Zacks Investment Research downgraded Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Twelve 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 stock has a consensus rating of “Buy” and a consensus target price of $37.14.
In related news, insider David P. Melito sold 2,580 shares of Synchrony Financial stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total transaction of $90,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Olympia J. Snowe bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were purchased at an average cost of $33.40 per share, with a total value of $100,200.00. Following the acquisition, the director now directly owns 10,608 shares of the company’s stock, valued at $354,307.20. The disclosure for this purchase can be found here. In the last three months, insiders sold 5,080 shares of company stock valued at $173,030. Corporate insiders own 0.03% of the company’s stock.
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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