WEALTHFRONT Corp Buys Shares of 25,675 Synchrony Financial (SYF)

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WEALTHFRONT Corp purchased a new position in Synchrony Financial (NYSE:SYF) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,675 shares of the financial services provider’s stock, valued at approximately $798,000.

A number of other institutional investors have also recently made changes to their positions in the business. Alps Advisors Inc. grew its holdings in Synchrony Financial by 4.2% in the 2nd quarter. Alps Advisors Inc. now owns 42,942 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 1,741 shares during the last quarter. United Asset Strategies Inc. grew its holdings in Synchrony Financial by 17.6% in the 2nd quarter. United Asset Strategies Inc. now owns 12,912 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 1,937 shares during the last quarter. Dupont Capital Management Corp grew its holdings in Synchrony Financial by 39.0% in the 2nd quarter. Dupont Capital Management Corp now owns 7,140 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 2,005 shares during the last quarter. TD Asset Management Inc. grew its holdings in Synchrony Financial by 0.9% in the 2nd quarter. TD Asset Management Inc. now owns 237,869 shares of the financial services provider’s stock worth $7,940,000 after acquiring an additional 2,095 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Synchrony Financial by 98.1% in the 2nd quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 2,143 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on the stock. Bank of America lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Wednesday, September 26th. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Monday, October 8th. BMO Capital Markets raised their target price on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 22nd. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a research report on Monday, October 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.06.

NYSE:SYF opened at $25.36 on Friday. Synchrony Financial has a 12 month low of $24.51 and a 12 month high of $40.59. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $18.07 billion, a PE ratio of 9.68, a P/E/G ratio of 0.68 and a beta of 1.02.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, October 19th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. Synchrony Financial had a net margin of 13.70% and a return on equity of 17.90%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period last year, the company posted $0.70 EPS. As a group, research analysts forecast that Synchrony Financial will post 3.54 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 5th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 3.31%. Synchrony Financial’s dividend payout ratio (DPR) is currently 32.06%.

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About Synchrony Financial

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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