Synchrony Financial (SYF) Position Raised by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can increased its position in shares of Synchrony Financial (NYSE:SYF) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 610,025 shares of the financial services provider’s stock after purchasing an additional 9,518 shares during the period. Great West Life Assurance Co. Can owned 0.08% of Synchrony Financial worth $18,999,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in SYF. Creative Planning raised its holdings in Synchrony Financial by 51.5% during the second quarter. Creative Planning now owns 8,885 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 3,022 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Synchrony Financial by 19.7% during the second quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 880 shares in the last quarter. First Quadrant L P CA raised its holdings in Synchrony Financial by 55.4% during the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 1,328 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Synchrony Financial by 39.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 1,280 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its holdings in Synchrony Financial by 54.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 39,290 shares of the financial services provider’s stock worth $1,172,000 after purchasing an additional 13,770 shares in the last quarter. 85.68% of the stock is currently owned by hedge funds and other institutional investors.
Synchrony Financial (NYSE SYF) traded up $0.05 during midday trading on Friday, reaching $35.94. 7,335,506 shares of the company’s stock traded hands, compared to its average volume of 5,980,511. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $28,087.21, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.80 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data 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. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the company posted $0.73 EPS. equities research analysts expect that Synchrony Financial will post 2.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 6th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Friday, November 3rd. Synchrony Financial’s payout ratio is 22.90%.
In related news, Director Olympia J. Snowe purchased 3,000 shares of the stock in a transaction dated Friday, November 17th. The shares were acquired at an average cost of $33.40 per share, for a total transaction of $100,200.00. Following the acquisition, the director now directly owns 10,608 shares in the company, valued at approximately $354,307.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Mothner sold 1,500 shares of the business’s stock in a transaction 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 transaction, the insider now owns 113,934 shares in the company, valued at $3,739,313.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,080 shares of company stock worth $173,030. Corporate insiders own 0.03% of the company’s stock.
Several equities research analysts recently commented on the company. Jefferies Group boosted their target price on Synchrony Financial to $44.00 and gave the stock a “top pick” rating in a report on Friday. BidaskClub cut Synchrony Financial from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Barclays reaffirmed a “buy” rating and issued a $43.00 price target on shares of Synchrony Financial in a report on Tuesday, November 21st. Zacks Investment Research raised Synchrony Financial from a “strong sell” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a report on Tuesday, October 31st. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $37.14.
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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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