Cambridge Investment Research Advisors Inc. Has $598,000 Position in Synchrony Financial (SYF)
Cambridge Investment Research Advisors Inc. lifted its position in Synchrony Financial (NYSE:SYF) by 25.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,254 shares of the financial services provider’s stock after acquiring an additional 3,895 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Synchrony Financial were worth $598,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc. acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at approximately $520,747,000. Raymond James Financial Services Advisors Inc. raised its holdings in Synchrony Financial by 15.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 409,428 shares of the financial services provider’s stock worth $12,209,000 after buying an additional 55,662 shares during the period. Janus Henderson Group PLC raised its holdings in Synchrony Financial by 1,820.5% during the 2nd quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock worth $326,070,000 after buying an additional 10,365,219 shares during the period. K.J. Harrison & Partners Inc acquired a new stake in Synchrony Financial during the 3rd quarter worth approximately $2,369,000. Finally, Amalgamated Bank raised its holdings in Synchrony Financial by 57.1% during the 2nd quarter. Amalgamated Bank now owns 91,027 shares of the financial services provider’s stock worth $2,714,000 after buying an additional 33,101 shares during the period. Institutional investors and hedge funds own 87.23% of the company’s stock.
Several brokerages have commented on SYF. Barclays PLC restated a “buy” rating and set a $43.00 target price on shares of Synchrony Financial in a report on Tuesday, November 21st. Morgan Stanley raised their target price on shares of Synchrony Financial from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. JMP Securities raised their target price on shares of Synchrony Financial from $35.00 to $37.00 and gave the stock a “market outperform” rating in a report on Monday, October 23rd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Synchrony Financial in a report on Friday, October 20th. Finally, Zacks Investment Research upgraded shares of Synchrony Financial from a “strong sell” rating to a “hold” rating in a report on Monday, October 23rd. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Synchrony Financial currently has an average rating of “Buy” and an average target price of $36.93.
In other news, insider Jonathan S. Mothner sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $32.82, for a total transaction of $49,230.00. Following the completion of the transaction, the insider now directly owns 113,934 shares of the company’s stock, valued at approximately $3,739,313.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 1,000 shares of the firm’s 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 transaction, the insider now directly owns 113,578 shares of the company’s stock, valued at $3,804,863. The disclosure for this sale can be found here. 0.03% of the stock is owned by company insiders.
Shares of Synchrony Financial (NYSE SYF) traded down $0.18 on Friday, hitting $33.49. 2,370,000 shares of the stock traded hands, compared to its average volume of 5,031,987. The company has a market cap of $26,209.01, a PE ratio of 12.78, a P/E/G ratio of 1.68 and a beta of 1.02. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.38.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. During the same period last year, the business earned $0.73 EPS. equities research analysts forecast that Synchrony Financial will post 2.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 6th were paid 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 1.79%. Synchrony Financial’s dividend payout ratio is currently 22.90%.
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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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