Birch Hill Investment Advisors LLC Decreases Position in Synchrony Financial (SYF)
Birch Hill Investment Advisors LLC trimmed its position in shares of Synchrony Financial (NYSE:SYF) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,336,682 shares of the financial services provider’s stock after selling 12,237 shares during the period. Synchrony Financial comprises 3.6% of Birch Hill Investment Advisors LLC’s investment portfolio, making the stock its 6th largest position. Birch Hill Investment Advisors LLC owned 0.17% of Synchrony Financial worth $41,504,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Westside Investment Management Inc. increased its stake in Synchrony Financial by 32.1% in the 2nd quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 867 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake 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 purchasing an additional 486 shares during the period. Highlander Capital Management LLC increased its stake in Synchrony Financial by 83.6% in the 2nd quarter. Highlander Capital Management LLC now owns 5,492 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 2,500 shares during the period. Sun Life Financial INC increased its stake in Synchrony Financial by 40,207.1% in the 2nd quarter. Sun Life Financial INC now owns 5,643 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 5,629 shares during the period. Finally, SpiderRock Advisors LLC purchased a new position in Synchrony Financial in the 3rd quarter worth approximately $176,000. 85.77% of the stock is currently owned by institutional investors.
Shares of Synchrony Financial (NYSE:SYF) traded up $0.16 during mid-day trading on Monday, hitting $37.50. The stock had a trading volume of 7,833,900 shares, compared to its average volume of 7,062,979. The company has a market cap of $29,347.19, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.89 and a beta of 1.06. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.38.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company posted $0.73 earnings per share. research analysts forecast that Synchrony Financial will post 2.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 6th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.60 annualized dividend and a dividend yield of 1.60%. Synchrony Financial’s dividend payout ratio is presently 22.90%.
In related news, insider Jonathan S. Mothner sold 1,000 shares of Synchrony Financial stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $33.50, for a total transaction of $33,500.00. Following the sale, the insider now directly owns 113,578 shares in the company, valued at $3,804,863. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Olympia J. Snowe purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were purchased at an average price of $33.40 per share, for a total transaction of $100,200.00. Following the completion of the transaction, 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. Insiders have sold 6,961 shares of company stock worth $244,508 over the last 90 days. 0.03% of the stock is currently owned by corporate insiders.
SYF has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research note on Friday, August 25th. BidaskClub raised Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Morgan Stanley cut Synchrony Financial from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $35.00 to $32.00 in a research note on Friday, September 8th. Jefferies Group reaffirmed a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research note on Thursday, September 21st. 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, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Synchrony Financial currently has an average rating of “Buy” and an average price target of $37.35.
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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