Middleton & Co Inc MA Has $1.90 Million Position in Synchrony Financial (SYF)
Middleton & Co Inc MA reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 73.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,168 shares of the financial services provider’s stock after selling 167,911 shares during the period. Middleton & Co Inc MA’s holdings in Synchrony Financial were worth $1,899,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Synchrony Financial by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock worth $1,557,609,000 after purchasing an additional 956,331 shares during the last quarter. FMR LLC raised its position in Synchrony Financial by 27.1% during the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock worth $1,102,267,000 after purchasing an additional 7,874,689 shares during the last quarter. Berkshire Hathaway Inc. bought a new position in Synchrony Financial during the 2nd quarter worth $520,747,000. First Eagle Investment Management LLC raised its position in Synchrony Financial by 1.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 17,303,205 shares of the financial services provider’s stock worth $515,982,000 after purchasing an additional 197,074 shares during the last quarter. Finally, Boston Partners raised its position in Synchrony Financial by 39.3% during the 2nd quarter. Boston Partners now owns 12,891,959 shares of the financial services provider’s stock worth $384,439,000 after purchasing an additional 3,637,487 shares during the last quarter. 88.46% of the stock is owned by institutional investors and hedge funds.
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In other Synchrony Financial news, insider Jonathan S. Mothner sold 1,500 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $32.82, for a total value of $49,230.00. Following the sale, the insider now owns 113,934 shares in the company, valued at $3,739,313.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan S. Mothner sold 1,000 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $33.50, for a total transaction of $33,500.00. Following the completion of the sale, the insider now owns 113,578 shares in the company, valued at approximately $3,804,863. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by corporate insiders.
Several brokerages recently issued reports on SYF. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 target price (up from $33.00) on shares of Synchrony Financial in a research report on Tuesday, July 25th. Barclays PLC set a $40.00 target price on Synchrony Financial and gave the stock a “buy” rating in a research report on Monday, October 23rd. TheStreet raised Synchrony Financial from a “c” rating to a “b” rating in a research report on Monday, July 31st. Bank of America Corporation lowered Synchrony Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $35.00 to $33.00 in a research report on Friday, October 6th. Finally, JMP Securities raised their target price on Synchrony Financial from $35.00 to $37.00 and gave the stock a “market outperform” rating in a research report on Monday, October 23rd. Twelve investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Synchrony Financial currently has a consensus rating of “Buy” and a consensus price target of $36.63.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. The business had revenue of $3.88 billion for 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 quarter in the prior year, the company earned $0.73 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, November 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.90%.
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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