AE Wealth Management LLC increased its holding in shares of Synchrony Financial (New York Stock Exchange:SYFget rating) by 10.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The company owned 6,886 shares of the financial services provider after buying an additional 660 shares during the period. AE Wealth Management LLC’s holdings in Synchrony Financial were worth $240,000 as of their most recent SEC filing.

Other large investors have also changed their holdings in the company. Pinnacle Associates Ltd. increased its holding in Synchrony Financial by 4.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 23,294 shares of the financial services provider worth $1,081,000 after purchasing an additional 1,050 shares during the period. Fifth Third Bancorp increased its holding in Synchrony Financial stock by 5.3% during the fourth quarter. Fifth Third Bancorp now owns 43,676 shares of the financial services provider worth $2,026,000 after purchasing an additional 2,197 shares during the period. Marshall Wace LLP increased its shareholding in Synchrony Financial by 8,460.7% during the fourth quarter. Marshall Wace LLP now owns 3,147,770 shares of the financial services provider worth $146,028,000 after purchasing an additional 3,111,000 shares during the period. Everence Capital Management Inc. increased its holding in Synchrony Financial stock by 92.2% during the first quarter. Everence Capital Management Inc. now owns 20,720 shares of the financial services provider worth $721,000 after purchasing an additional 9,940 shares during the period. Finally, Foster & Motley Inc. increased its holding in shares of Synchrony Financial by 20.7% during the fourth quarter. Foster & Motley Inc. now owns 33,990 shares of the financial services provider worth $1,577,000 after purchasing an additional 5,820 shares during the period. Institutional investors own 98.26% of the company’s shares.

SYF Shares opened at $30.46 on Wednesday. The company has a market cap of $15.28 billion, a P/E ratio of 4.13, a PEG ratio of 0.23, and a beta of 1.52. Synchrony Financial has a twelve month minimum of $27.22 and a twelve month maximum of $52.49. The company has a 50-day simple moving average of $32.56 and a 200-day simple moving average of $38.08. The company has a current ratio of 1.24, a quick ratio of 1.18, and a debt-to-equity ratio of 1.05.

Financial Synchronization (New York Stock Exchange:SYFget rating) last published its quarterly earnings data on Monday, April 18. The financial services provider reported earnings per share of $1.73 for the quarter, beating the consensus estimate of $1.53 by $0.20. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $2.66 billion. Synchrony Financial achieved a return on equity of 29.99% and a net margin of 26.26%. During the same period last year, the company made $1.73 of earnings per share. Research analysts predict that Synchrony Financial will post 5.63 EPS for the current fiscal year.

Synchrony Financial announced that its Board of Directors authorized a share repurchase program on Monday, April 18, which authorizes the company to repurchase $2.8 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 13.6% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12. Shareholders of record on Monday May 2 received a dividend of $0.22. This represents an annualized dividend of $0.88 and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, April 29. Synchrony Financial’s payout ratio is currently 11.94%.

SYF has been the subject of several recent investigative reports. Stephens cut Synchrony Financial’s share price target from $54.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 19. Morgan Stanley cut its price target on Synchrony Financial shares to $31.00 from $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Barclays cut its price target on Synchrony Financial shares to $49.00 from $64.00 and set an “overweight” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods lowered Synchrony Financial’s share price target from $59.00 to $46.00 in a research note on Monday. Finally, StockNews.com downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Thursday, June 30. One research analyst rated the stock a sell rating, four issued a hold rating, and twelve assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.88.

About Synchrony Financial (get rating)

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. Offers credit products, such as credit cards, business 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 business customers, as well as accept deposits through third-party securities brokerage firms.

Other readings

Want to see what other hedge funds have SYF? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Synchrony Financial (New York Stock Exchange:SYFget rating).

Synchrony Financial (NYSE:SYF) Quarterly Institutional Ownership



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