TCW Group Inc. reduced its position in Synchrony Financial (NYSE:SYF) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,036,034 shares of the financial services provider’s stock after selling 163,374 shares during the quarter. TCW Group Inc.’s holdings in Synchrony Financial were worth $117,221,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its stake in Synchrony Financial by 13.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 466,387 shares of the financial services provider’s stock valued at $14,481,000 after acquiring an additional 56,959 shares during the period. Great West Life Assurance Co. Can raised its stake in Synchrony Financial by 1.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 610,025 shares of the financial services provider’s stock valued at $18,999,000 after acquiring an additional 9,518 shares during the period. Alps Advisors Inc. bought a new stake in Synchrony Financial in the 4th quarter valued at about $283,000. Stifel Financial Corp raised its stake in Synchrony Financial by 531.9% in the 3rd quarter. Stifel Financial Corp now owns 577,096 shares of the financial services provider’s stock valued at $17,910,000 after acquiring an additional 485,775 shares during the period. Finally, K.J. Harrison & Partners Inc bought a new stake in Synchrony Financial in the 3rd quarter valued at about $2,369,000. Institutional investors and hedge funds own 87.58% of the company’s stock.
In other news, insider David P. Melito sold 1,881 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $38.00, for a total transaction of $71,478.00. Following the completion of the transaction, the insider now owns 43,140 shares of the company’s stock, valued at $1,639,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David P. Melito sold 2,580 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total value of $90,300.00. The disclosure for this sale can be found here. Insiders have sold 19,599 shares of company stock valued at $723,943 in the last three months. 0.03% of the stock is owned by insiders.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. sell-side analysts predict that Synchrony Financial will post 3.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Friday, February 2nd. Synchrony Financial’s payout ratio is 24.90%.
A number of brokerages recently issued reports on SYF. Wedbush set a $41.00 price objective on Synchrony Financial and gave the company a “hold” rating in a research note on Monday, December 11th. Barclays set a $40.00 price objective on Synchrony Financial and gave the company a “buy” rating in a research note on Monday, October 23rd. JMP Securities boosted their price objective on Synchrony Financial from $35.00 to $37.00 and gave the company a “market outperform” rating in a research note on Monday, October 23rd. Zacks Investment Research upgraded Synchrony Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, October 23rd. Finally, Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a research note on Tuesday, October 31st. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.30.
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Synchrony Financial 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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