M&R Capital Management Inc. lessened its holdings in Synchrony Financial (NYSE:SYF – Free Report) by 57.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,350 shares of the financial services provider’s stock after selling 1,801 shares during the period. M&R Capital Management Inc.’s holdings in Synchrony Financial were worth $46,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Live Oak Investment Partners bought a new position in shares of Synchrony Financial during the 4th quarter valued at approximately $27,000. Ameritas Advisory Services LLC bought a new stake in shares of Synchrony Financial in the first quarter valued at $39,000. Spire Wealth Management lifted its position in shares of Synchrony Financial by 47.8% during the 1st quarter. Spire Wealth Management now owns 1,357 shares of the financial services provider’s stock valued at $39,000 after buying an additional 439 shares during the last quarter. Covestor Ltd increased its holdings in Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 644 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings 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 owned by institutional investors.
In related news, insider David P. Melito sold 15,015 shares of the firm’s stock in a transaction dated 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 directly owns 13,960 shares of the company’s stock, valued at $488,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brian D. Doubles sold 36,610 shares of Synchrony Financial stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $34.50, for a total value of $1,263,045.00. Following the sale, the insider now owns 565,240 shares in the company, valued at $19,500,780. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David P. Melito sold 15,015 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $525,525.00. Following the completion of the transaction, the insider now owns 13,960 shares of the company’s stock, valued at $488,600. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Wall Street Analyst Weigh In
Synchrony Financial Stock Up 1.5 %
SYF opened at $32.29 on Friday. Synchrony Financial has a 12 month low of $26.59 and a 12 month high of $40.88. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average price is $33.62 and its 200-day moving average price is $31.84. The company has a market cap of $13.50 billion, a P/E ratio of 5.98, a P/E/G ratio of 1.42 and a beta of 1.60.
Synchrony Financial (NYSE:SYF – Get Free Report) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. Synchrony Financial had a return on equity of 19.79% and a net margin of 12.90%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. On average, equities analysts expect that Synchrony Financial will post 5.05 EPS for the current year.
Synchrony Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Monday, July 31st were given a $0.25 dividend. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, July 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.10%. Synchrony Financial’s payout ratio is presently 18.52%.
Synchrony Financial Profile
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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