Gulf International Bank UK Ltd lowered its stake in shares of Synchrony Financial (NYSE:SYF – Free Report) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 34,961 shares of the financial services provider’s stock after selling 5,373 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Synchrony Financial were worth $1,335,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of SYF. Live Oak Investment Partners acquired a new position in shares of Synchrony Financial during the fourth quarter valued at about $27,000. Exchange Traded Concepts LLC acquired a new position in shares of Synchrony Financial during the third quarter valued at about $35,000. Covestor Ltd increased its holdings in Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock worth $39,000 after buying an additional 644 shares during the period. Zions Bancorporation N.A. increased its holdings in Synchrony Financial by 230.5% in the 1st quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock worth $43,000 after buying an additional 855 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in Synchrony Financial by 76.2% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,325 shares of the financial services provider’s stock worth $46,000 after buying an additional 573 shares during the period. Institutional investors and hedge funds own 94.72% of the company’s stock.
Synchrony Financial Stock Performance
NYSE SYF opened at $41.55 on Friday. The company has a market cap of $16.90 billion, a P/E ratio of 8.02, a P/E/G ratio of 0.98 and a beta of 1.61. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a 50-day moving average of $39.91 and a two-hundred day moving average of $35.00. Synchrony Financial has a 1-year low of $26.59 and a 1-year high of $43.83.
Synchrony Financial (NYSE:SYF – Get Free Report) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same period in the previous year, the company posted $1.26 EPS. As a group, analysts anticipate that Synchrony Financial will post 5.7 EPS for the current year.
Synchrony Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Friday, February 2nd. Synchrony Financial’s dividend payout ratio is currently 19.31%.
Insider Buying and Selling at Synchrony Financial
In other news, insider Curtis Howse sold 6,179 shares of Synchrony Financial stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the transaction, the insider now owns 152,604 shares in the company, valued at approximately $6,534,503.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the sale, the insider now owns 152,604 shares in the company, valued at $6,534,503.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian D. Doubles sold 134,696 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The disclosure for this sale can be found here. Insiders sold a total of 148,158 shares of company stock valued at $6,106,106 in the last three months. 0.65% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on SYF. Piper Sandler increased their target price on Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Synchrony Financial in a report on Wednesday, January 10th. They issued a “buy” rating and a $56.00 price objective on the stock. BMO Capital Markets downgraded Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 target price for the company. in a research note on Wednesday, January 10th. Bank of America raised their target price on Synchrony Financial from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.75.
Check Out Our Latest Stock Report on Synchrony Financial
About Synchrony Financial
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 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.
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