Gabelli Funds LLC cut its position in shares of Synchrony Financial (NYSE:SYF) by 7.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,434 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Gabelli Funds LLC’s holdings in Synchrony Financial were worth $2,265,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of SYF. Garrett Wealth Advisory Group LLC bought a new position in shares of Synchrony Financial during the third quarter worth about $26,000. Executive Wealth Management LLC bought a new position in shares of Synchrony Financial during the second quarter worth about $27,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Synchrony Financial during the second quarter worth about $29,000. Captrust Financial Advisors grew its holdings in shares of Synchrony Financial by 321.5% during the second quarter. Captrust Financial Advisors now owns 843 shares of the financial services provider’s stock worth $29,000 after buying an additional 643 shares in the last quarter. Finally, Capital Investment Advisory Services LLC bought a new position in shares of Synchrony Financial during the second quarter worth about $30,000. Institutional investors and hedge funds own 88.76% of the company’s stock.
In related news, Director Will W. Graylin sold 7,500 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $33.71, for a total transaction of $252,825.00. Following the completion of the transaction, the director now directly owns 76,662 shares of the company’s stock, valued at $2,584,276.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.
NYSE SYF traded down $0.02 during trading hours on Friday, hitting $36.94. 3,898,564 shares of the company traded hands, compared to its average volume of 5,632,108. The business’s 50-day moving average is $34.24 and its 200-day moving average is $34.30. Synchrony Financial has a twelve month low of $21.77 and a twelve month high of $37.33. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.26 and a current ratio of 1.38. The stock has a market capitalization of $23.88 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.91 and a beta of 1.16.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. Synchrony Financial had a return on equity of 20.05% and a net margin of 19.54%. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. Analysts predict that Synchrony Financial will post 4.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.88 annualized dividend and a yield of 2.38%. Synchrony Financial’s dividend payout ratio (DPR) is presently 23.53%.
A number of research analysts recently issued reports on the company. BTIG Research reiterated a “buy” rating and set a $42.00 price objective on shares of Synchrony Financial in a report on Monday, July 22nd. Oppenheimer set a $39.00 price objective on Synchrony Financial and gave the stock a “buy” rating in a report on Tuesday, October 15th. Buckingham Research assumed coverage on Synchrony Financial in a report on Monday, July 22nd. They set a “buy” rating and a $42.00 price objective for the company. BMO Capital Markets set a $43.00 price objective on Synchrony Financial and gave the stock a “buy” rating in a report on Sunday, July 21st. Finally, ValuEngine cut Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Synchrony Financial currently has a consensus rating of “Buy” and a consensus target price of $38.92.
Synchrony Financial Profile
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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