Tocqueville Asset Management L.P. lowered its stake in Synchrony Financial (NYSE:SYF) by 30.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 515,609 shares of the financial services provider’s stock after selling 224,382 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.07% of Synchrony Financial worth $19,908,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Patten Group Inc. raised its position in shares of Synchrony Financial by 3,019.4% during the 3rd quarter. Patten Group Inc. now owns 106,713 shares of the financial services provider’s stock valued at $106,000 after buying an additional 103,292 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Synchrony Financial during the 3rd quarter valued at about $192,000. Flossbach Von Storch AG purchased a new stake in shares of Synchrony Financial during the 4th quarter valued at about $202,000. TRUE Private Wealth Advisors purchased a new stake in shares of Synchrony Financial during the 4th quarter valued at about $204,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Synchrony Financial during the 3rd quarter valued at about $206,000. Institutional investors and hedge funds own 88.65% of the company’s stock.
Synchrony Financial (SYF) traded down $0.58 during trading on Wednesday, reaching $36.10. 4,231,666 shares of the company were exchanged, compared to its average volume of 6,120,000. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market cap of $28,250.00, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.43 and a beta of 1.07. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $40.59.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a $0.15 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.66%. Synchrony Financial’s dividend payout ratio is currently 22.90%.
In other Synchrony Financial news, insider David P. Melito sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the transaction, the insider now directly owns 39,259 shares in the company, valued at approximately $1,570,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Margaret M. Keane sold 13,138 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $36.70, for a total transaction of $482,164.60. Following the completion of the transaction, the insider now owns 440,169 shares in the company, valued at $16,154,202.30. The disclosure for this sale can be found here. Insiders sold a total of 25,850 shares of company stock worth $955,616 over the last 90 days. Insiders own 0.03% of the company’s stock.
SYF has been the topic of several recent research reports. Jefferies Group upped their target price on shares of Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research report on Friday, December 1st. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a research report on Monday, January 22nd. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Barclays set a $55.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Wedbush set a $41.00 target price on shares of Synchrony Financial and gave the company a “hold” rating in a research report on Monday, December 11th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Synchrony Financial currently has an average rating of “Buy” and an average price target of $38.32.
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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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