National Pension Service decreased its position in Synchrony Financial (NYSE:SYF – Free Report) by 0.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 909,614 shares of the financial services provider’s stock after selling 442 shares during the period. National Pension Service owned approximately 0.21% of Synchrony Financial worth $25,969,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of SYF. Live Oak Investment Partners bought a new position in shares of Synchrony Financial during the fourth quarter worth about $27,000. Ameritas Advisory Services LLC bought a new position in Synchrony Financial in the first quarter valued at $39,000. Spire Wealth Management lifted its position in Synchrony Financial by 47.8% during the 1st quarter. Spire Wealth Management now owns 1,357 shares of the financial services provider’s stock worth $39,000 after buying an additional 439 shares in the last quarter. Covestor Ltd grew its holdings in shares of Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 644 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its position in Synchrony Financial by 230.5% during the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 855 shares during the last quarter. 94.72% of the stock is currently owned by institutional investors.
Insider Activity at Synchrony Financial
In other Synchrony Financial news, insider David P. Melito sold 15,015 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $35.00, for a total value of $525,525.00. Following the sale, the insider now owns 13,960 shares of the company’s stock, valued at approximately $488,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Brian D. Doubles sold 36,610 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $34.50, for a total transaction of $1,263,045.00. Following the transaction, the insider now owns 565,240 shares in the company, valued at approximately $19,500,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David P. Melito sold 15,015 shares of Synchrony Financial stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $525,525.00. Following the completion of the sale, the insider now directly owns 13,960 shares of the company’s stock, valued at $488,600. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
Synchrony Financial Price Performance
Synchrony Financial (NYSE:SYF – Get Free Report) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.10 billion. Synchrony Financial had a return on equity of 19.79% and a net margin of 12.90%. During the same quarter in the previous year, the firm earned $1.60 earnings per share. As a group, equities analysts predict that Synchrony Financial will post 5.01 earnings per share for the current fiscal year.
Synchrony Financial Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Stockholders of record on Monday, July 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, July 28th. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.23. Synchrony Financial’s dividend payout ratio is 18.52%.
Wall Street Analyst Weigh In
SYF has been the topic of a number of analyst reports. Citigroup dropped their price objective on Synchrony Financial from $44.00 to $43.00 in a research note on Friday, June 2nd. UBS Group increased their price target on shares of Synchrony Financial from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, July 19th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Monday, August 28th. Bank of America raised their target price on shares of Synchrony Financial from $37.00 to $38.00 in a research note on Monday, June 12th. Finally, JMP Securities reissued a “market outperform” rating and set a $42.00 price target on shares of Synchrony Financial in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $37.00.
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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.
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