Synchrony Financial (SYF) Shares Bought by Highlander Capital Management LLC
Highlander Capital Management LLC boosted its position in Synchrony Financial (NYSE:SYF) by 91.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,492 shares of the financial services provider’s stock after buying an additional 5,000 shares during the period. Highlander Capital Management LLC’s holdings in Synchrony Financial were worth $326,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Berkshire Hathaway Inc. bought a new stake in Synchrony Financial during the 2nd quarter worth approximately $520,747,000. Janus Henderson Group PLC increased 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 purchasing an additional 10,365,219 shares in the last quarter. FMR LLC increased its holdings 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 in the last quarter. Capital World Investors bought a new stake in Synchrony Financial during the 2nd quarter worth approximately $202,269,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in Synchrony Financial by 2,777.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,109,742 shares of the financial services provider’s stock worth $128,144,000 after purchasing an additional 3,966,900 shares in the last quarter. 85.77% of the stock is owned by institutional investors and hedge funds.
In related news, insider Jonathan S. Mothner sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $32.82, for a total value of $49,230.00. Following the transaction, the insider now owns 113,934 shares in the company, valued at $3,739,313.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Olympia J. Snowe acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was purchased at an average price of $33.40 per share, for a total transaction of $100,200.00. Following the purchase, the director now owns 10,608 shares of the company’s stock, valued at approximately $354,307.20. The disclosure for this purchase can be found here. In the last quarter, insiders sold 6,961 shares of company stock worth $244,508. 0.03% of the stock is owned by company insiders.
Synchrony Financial (NYSE:SYF) traded up $0.09 during trading on Tuesday, reaching $37.59. The company had a trading volume of 5,916,700 shares, compared to its average volume of 7,058,163. Synchrony Financial has a fifty-two week low of $26.01 and a fifty-two week high of $38.06. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $29,347.19, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.89 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 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. equities analysts anticipate that Synchrony Financial will post 2.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 6th were paid a $0.15 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.60 annualized dividend and a yield of 1.60%. Synchrony Financial’s payout ratio is 22.90%.
A number of analysts have commented on SYF shares. BMO Capital Markets reissued a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a report on Friday, August 25th. BidaskClub raised Synchrony Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Morgan Stanley lowered Synchrony Financial from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $35.00 to $32.00 in a report on Friday, September 8th. Jefferies Group reissued a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a report on Thursday, September 21st. Finally, Zacks Investment Research lowered Synchrony Financial from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $37.35.
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About Synchrony Financial
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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