FDx Advisors Inc. lowered its position in Synchrony Financial (NYSE:SYF) by 11.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,970 shares of the financial services provider’s stock after selling 3,925 shares during the quarter. FDx Advisors Inc.’s holdings in Synchrony Financial were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Harbour Capital Advisors LLC increased its stake in shares of Synchrony Financial by 4.5% in the fourth quarter. Harbour Capital Advisors LLC now owns 32,630 shares of the financial services provider’s stock valued at $1,260,000 after purchasing an additional 1,405 shares during the period. BB&T Corp increased its stake in shares of Synchrony Financial by 4.5% during the fourth quarter. BB&T Corp now owns 33,086 shares of the financial services provider’s stock valued at $1,277,000 after acquiring an additional 1,417 shares during the period. Carnick & Kubik Group LLC increased its stake in shares of Synchrony Financial by 3.7% during the fourth quarter. Carnick & Kubik Group LLC now owns 41,991 shares of the financial services provider’s stock valued at $1,621,000 after acquiring an additional 1,509 shares during the period. Westchester Capital Management Inc. increased its stake in shares of Synchrony Financial by 0.6% during the fourth quarter. Westchester Capital Management Inc. now owns 252,146 shares of the financial services provider’s stock valued at $9,735,000 after acquiring an additional 1,515 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Synchrony Financial by 8.7% during the third quarter. Oppenheimer & Co. Inc. now owns 19,536 shares of the financial services provider’s stock valued at $607,000 after acquiring an additional 1,571 shares during the period. Institutional investors own 87.58% of the company’s stock.
In related news, insider David P. Melito sold 2,580 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $35.00, for a total value of $90,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas M. Quindlen sold 10,712 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $36.73, for a total transaction of $393,451.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,311 shares of company stock worth $1,117,394. 0.03% of the stock is currently owned by company insiders.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.96 billion. Synchrony Financial had a net margin of 11.75% and a return on equity of 14.62%. During the same quarter in the previous year, the business posted $0.70 earnings per share. equities analysts forecast that Synchrony Financial will post 3.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a $0.15 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.60 annualized dividend and a yield of 1.60%. Synchrony Financial’s dividend payout ratio (DPR) is 24.90%.
A number of research firms recently commented on SYF. Zacks Investment Research upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Wednesday, January 31st. Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a research note on Tuesday, October 31st. Jefferies Group raised their price objective on shares of Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research note on Friday, December 1st. Wedbush set a $41.00 price objective on shares of Synchrony Financial and gave the company a “hold” rating in a research note on Monday, December 11th. Finally, Barclays reiterated a “buy” rating and set a $43.00 price objective on shares of Synchrony Financial in a research note on Tuesday, November 21st. Nine equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Synchrony Financial currently has an average rating of “Buy” and an average target price of $38.30.
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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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