Principal Financial Group Inc. trimmed its position in Synchrony Financial (NYSE:SYF – Get Rating) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 691,373 shares of the financial services provider’s stock after selling 42,490 shares during the period. Principal Financial Group Inc.’s holdings in Synchrony Financial were worth $32,072,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in SYF. Penserra Capital Management LLC increased its stake in Synchrony Financial by 11.0% during the 3rd quarter. Penserra Capital Management LLC now owns 2,031 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 201 shares in the last quarter. Greenleaf Trust increased its stake in Synchrony Financial by 3.3% during the 3rd quarter. Greenleaf Trust now owns 6,842 shares of the financial services provider’s stock worth $334,000 after purchasing an additional 219 shares in the last quarter. Baird Financial Group Inc. increased its stake in Synchrony Financial by 0.9% during the 4th quarter. Baird Financial Group Inc. now owns 25,965 shares of the financial services provider’s stock worth $1,205,000 after purchasing an additional 235 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Synchrony Financial by 17.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,588 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 240 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in Synchrony Financial by 3.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 7,307 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.
NYSE:SYF opened at $33.55 on Friday. Synchrony Financial has a 1-year low of $32.04 and a 1-year high of $52.49. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $36.90 and a 200 day simple moving average of $42.78. The stock has a market capitalization of $16.82 billion, a PE ratio of 4.55, a P/E/G ratio of 0.27 and a beta of 1.43.
Synchrony Financial announced that its Board of Directors has initiated a stock repurchase plan on Monday, April 18th that allows the company to buyback $2.80 billion in shares. This buyback authorization allows the financial services provider to buy up to 13.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 2nd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.62%. The ex-dividend date was Friday, April 29th. Synchrony Financial’s dividend payout ratio is 11.94%.
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Synchrony Financial from $55.00 to $51.00 in a research note on Wednesday, January 19th. StockNews.com began coverage on shares of Synchrony Financial in a research note on Thursday, March 31st. They set a “hold” rating for the company. BMO Capital Markets raised their price target on shares of Synchrony Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 19th. Wells Fargo & Company decreased their price target on shares of Synchrony Financial from $52.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 6th. Finally, The Goldman Sachs Group raised their price target on shares of Synchrony Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $51.26.
Synchrony Financial Company Profile (Get Rating)
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual cards, co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.
- Get a free copy of the StockNews.com research report on Synchrony Financial (SYF)
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