Blair William & Co. IL Purchases 12,812 Shares of Synchrony Financial (SYF)
Blair William & Co. IL boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 58.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,551 shares of the financial services provider’s stock after buying an additional 12,812 shares during the period. Blair William & Co. IL’s holdings in Synchrony Financial were worth $1,030,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Creative Planning raised its position in Synchrony Financial by 4.3% in the first quarter. Creative Planning now owns 5,863 shares of the financial services provider’s stock valued at $201,000 after buying an additional 240 shares during the period. State of Alaska Department of Revenue purchased a new position in Synchrony Financial during the first quarter valued at $152,000. Glen Harbor Capital Management LLC raised its position in Synchrony Financial by 6.1% in the first quarter. Glen Harbor Capital Management LLC now owns 19,492 shares of the financial services provider’s stock valued at $669,000 after buying an additional 1,122 shares during the period. Strs Ohio raised its position in Synchrony Financial by 6.2% in the first quarter. Strs Ohio now owns 25,341 shares of the financial services provider’s stock valued at $869,000 after buying an additional 1,490 shares during the period. Finally, IFP Advisors Inc raised its position in Synchrony Financial by 3.4% in the first quarter. IFP Advisors Inc now owns 6,216 shares of the financial services provider’s stock valued at $213,000 after buying an additional 206 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.
Shares of Synchrony Financial (NYSE SYF) opened at 30.12 on Wednesday. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06. The stock’s 50 day moving average is $30.03 and its 200-day moving average is $31.35. The stock has a market cap of $23.96 billion, a price-to-earnings ratio of 11.31 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Equities analysts anticipate that Synchrony Financial will post $2.60 EPS for the current fiscal year.
Synchrony Financial announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 18th that authorizes the company to buyback $1.64 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 7th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.99%. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, August 3rd. Synchrony Financial’s dividend payout ratio is currently 22.64%.
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Several equities analysts have recently weighed in on SYF shares. Guggenheim lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $38.00 to $32.00 in a report on Wednesday, May 3rd. TheStreet lowered shares of Synchrony Financial from a “b” rating to a “c+” rating in a report on Wednesday, May 3rd. Zacks Investment Research lowered shares of Synchrony Financial from a “hold” rating to a “strong sell” rating in a report on Thursday, May 4th. BTIG Research reaffirmed a “buy” rating and set a $36.00 target price on shares of Synchrony Financial in a report on Wednesday, May 24th. Finally, ValuEngine lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Synchrony Financial currently has an average rating of “Buy” and a consensus price target of $37.55.
In related news, Director Paget Leonard Alves bought 2,000 shares of Synchrony Financial stock in a transaction dated Monday, July 24th. The stock was acquired at an average cost of $30.85 per share, with a total value of $61,700.00. Following the completion of the acquisition, the director now directly owns 8,521 shares in the company, valued at approximately $262,872.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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