Earnest Partners LLC decreased its position in Synchrony Financial (NYSE:SYF) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,014,355 shares of the financial services provider’s stock after selling 21,436 shares during the period. Earnest Partners LLC’s holdings in Synchrony Financial were worth $39,164,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of Synchrony Financial by 13.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 466,387 shares of the financial services provider’s stock valued at $14,481,000 after purchasing an additional 56,959 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Synchrony Financial in the 4th quarter valued at about $283,000. Great West Life Assurance Co. Can raised its stake in shares of Synchrony Financial by 1.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 610,025 shares of the financial services provider’s stock valued at $18,999,000 after purchasing an additional 9,518 shares during the period. Stifel Financial Corp raised its stake in shares of Synchrony Financial by 531.9% in the 3rd quarter. Stifel Financial Corp now owns 577,096 shares of the financial services provider’s stock valued at $17,910,000 after purchasing an additional 485,775 shares during the period. Finally, Highlander Capital Management LLC raised its stake in shares of Synchrony Financial by 91.0% in the 3rd quarter. Highlander Capital Management LLC now owns 10,492 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 5,000 shares during the period. 88.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Thomas M. Quindlen sold 10,712 shares of Synchrony Financial stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $36.73, for a total transaction of $393,451.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David P. Melito sold 2,000 shares of Synchrony Financial stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the transaction, the insider now owns 39,259 shares of the company’s stock, valued at approximately $1,570,360. The disclosure for this sale can be found here. Insiders have sold 25,850 shares of company stock valued at $955,616 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the company posted $0.70 earnings per share. analysts forecast that Synchrony Financial will post 3.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Friday, February 2nd. Synchrony Financial’s payout ratio is currently 24.90%.
Several analysts have issued reports on SYF shares. Jefferies Group lifted their price target on Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research note on Friday, December 1st. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a report on Monday, January 22nd. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating in a report on Monday, December 18th. Barclays set a $55.00 price objective on Synchrony Financial and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Wedbush set a $41.00 price objective on Synchrony Financial and gave the company a “hold” rating in a report on Monday, December 11th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $38.11.
ILLEGAL ACTIVITY WARNING: This news story was first reported by Ticker Report and is owned by of Ticker Report. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.tickerreport.com/banking-finance/3261988/earnest-partners-llc-sells-21436-shares-of-synchrony-financial-syf.html.
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.
Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF).
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.