Meadow Creek Investment Management LLC increased its position in shares of Synchrony Financial (NYSE:SYF) by 15.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 275,162 shares of the financial services provider’s stock after buying an additional 35,972 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Synchrony Financial were worth $10,624,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. grew its position in Synchrony Financial by 7.2% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,419 shares of the financial services provider’s stock worth $982,000 after buying an additional 1,702 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its position in Synchrony Financial by 16.3% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 926,830 shares of the financial services provider’s stock worth $35,784,000 after buying an additional 129,907 shares in the last quarter. GHP Investment Advisors Inc. grew its position in Synchrony Financial by 50.5% during the fourth quarter. GHP Investment Advisors Inc. now owns 24,915 shares of the financial services provider’s stock worth $962,000 after buying an additional 8,362 shares in the last quarter. Van Den Berg Management I Inc. acquired a new stake in Synchrony Financial during the fourth quarter worth about $3,912,000. Finally, Jones Financial Companies Lllp grew its position in Synchrony Financial by 13.3% during the fourth quarter. Jones Financial Companies Lllp now owns 195,188 shares of the financial services provider’s stock worth $7,536,000 after buying an additional 22,904 shares in the last quarter. 88.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider David P. Melito sold 2,000 shares of Synchrony Financial stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the transaction, the insider now owns 39,259 shares in the company, valued at $1,570,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas M. Quindlen sold 10,712 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, February 20th. The shares were 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. Insiders 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 earnings results on Friday, January 19th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Synchrony Financial had a net margin of 11.75% and a return on equity of 14.62%. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. equities research analysts predict that Synchrony Financial will post 3.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Friday, February 2nd. Synchrony Financial’s dividend payout ratio (DPR) is currently 24.90%.
SYF has been the topic of a number of recent research reports. Jefferies Group lifted their target price on Synchrony Financial to $44.00 and gave the stock a “top pick” rating in a research report on Friday, December 1st. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research report on Monday, January 22nd. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Barclays set a $55.00 target price on Synchrony Financial and gave the stock a “buy” rating in a research 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 research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $38.11.
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Synchrony Financial 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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