Mutual of America Capital Management LLC reduced its holdings of Synchrony Financial shares (NYSE: SYF – Get a rating) by 1.4% during the first quarter, HoldingsChannel reports. The fund held 142,177 shares of the financial services provider after selling 1,953 shares during the period. Mutual of America Capital Management LLC’s holdings in Synchrony Financial were worth $4,949,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also been buying and selling shares of the company recently. Blue Bell Private Wealth Management LLC acquired a new position in Synchrony Financial during the fourth quarter worth $30,000. CVA Family Office LLC acquired a new position in Synchrony Financial during the fourth quarter worth $30,000. Massmutual Trust Co. FSB ADV increased its holdings in Synchrony Financial by 115.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider worth $45,000 after acquiring an additional 517 shares during the period. Andrew Hill Investment Advisors Inc. acquired a new position in Synchrony Financial during the fourth quarter worth $46,000. Finally, KRS Capital Management LLC acquired a new position in Synchrony Financial during the fourth quarter worth $46,000. Institutional investors and hedge funds own 98.26% of the company’s shares.
Analyst upgrades and downgrades
Several research companies have weighed in on SYF. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a Thursday, June 30 report. Stephens raised his target price on Synchrony Financial from $29.00 to $35.00 and gave the company an “equal weight” rating in a Tuesday, July 19 report. TheStreet downgraded Synchrony Financial from a ‘b-‘ rating to a ‘c+’ rating in a Tuesday, July 19 report. Keefe, Bruyette & Woods lowered their target price on Synchrony Financial from $59.00 to $46.00 in a Monday, July 11 report. Finally, Goldman Sachs Group raised its price target on Synchrony Financial from $40.00 to $45.00 and gave the company a “buy” rating in a Tuesday, April 19 report. One investment analyst gave the stock a sell rating, five gave the company a hold rating and eleven gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.76.
Synchrony Financial Stock up 0.1%
Shares of NYSE: SYF opened at $32.68 on Monday. The stock’s fifty-day simple moving average is $31.79 and its 200-day simple moving average is $37.17. Synchrony Financial has a 52-week low of $27.22 and a 52-week high of $52.49. The company has a market capitalization of $16.39 billion, a P/E ratio of 4.77, a P/E/G ratio of 0.25 and a beta of 1.52. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt ratio of 0.96.
Synchrony Financial (NYSE: SYF – Get a rating) last released its results on Monday, July 18. The financial services provider reported earnings per share of $1.60 for the quarter, beating the consensus estimate of $1.47 by $0.13. Synchrony Financial had a return on equity of 27.06% and a net margin of 22.76%. In the same quarter of the previous year, the company achieved EPS of $2.12. As a group, equity research analysts expect Synchrony Financial to post earnings per share of 5.64 for the current fiscal year.
Synchrony Financial said its board authorized a stock buyback program on Monday, April 18 that allows the company to repurchase $2.80 billion in outstanding stock. This repurchase authorization allows the financial services provider to purchase up to 13.6% of its shares through purchases on the open market. Stock buyback programs are usually a sign that a company’s management believes its stock is undervalued.
Synchrony Financial increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11. Investors of record on Monday August 1 will receive a dividend of $0.23 per share. The ex-dividend date is Friday, July 29. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.22. This represents an annualized dividend of $0.92 and a yield of 2.82%. Synchrony Financial’s dividend payout ratio is 12.85%.
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, trade credit products and consumer installment loans. The company also offers private label credit cards, dual cards, co-branded 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 for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.
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