IFM Investors Pty Ltd increased its stake in Synchrony Financial (NYSE: SYF – Get a rating) by 19.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor held 86,885 shares of the financial services provider after acquiring an additional 14,173 shares during the period. IFM Investors Pty Ltd’s holdings in Synchrony Financial were worth $3,024,000 at the end of the most recent period.
Other hedge funds have also recently changed their holdings in the company. Moors & Cabot Inc. bought a new stock position in Synchrony Financial in Q3 worth approximately $26,000. CVA Family Office LLC bought a new stock position in Synchrony Financial in Q4 worth about $30,000. Blue Bell Private Wealth Management LLC acquired a new stake in Synchrony Financial in Q4 worth approximately $30,000. Spire Wealth Management increased its holdings in Synchrony Financial by 1,219.7% in the fourth quarter. Spire Wealth Management now owns 871 shares of the financial services provider valued at $40,000 after buying an additional 805 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Synchrony Financial by 115.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider valued at $45,000 after buying 517 additional shares in the last quarter. 98.26% of the shares are currently held by institutional investors and hedge funds.
Shares of SYF opened at $28.53 on Thursday. The stock has a fifty-day moving average price of $34.14 and a two-hundred-day moving average price of $39.21. The company has a debt ratio of 1.05, a quick ratio of 1.18 and a current ratio of 1.24. Synchrony Financial has a 52-week low of $27.40 and a 52-week high of $52.49. The company has a market capitalization of $14.31 billion, a price/earnings ratio of 3.87, a PEG ratio of 0.23 and a beta of 1.43.
Synchrony Financial (NYSE: SYF – Get a rating) last released its quarterly earnings data on Monday, April 18. The financial services provider reported earnings per share (EPS) of $1.73 for the quarter, beating the consensus estimate of $1.53 by $0.20. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. The company posted revenue of $3.79 billion in the quarter, versus a consensus estimate of $2.66 billion. In the same quarter a year earlier, the company posted EPS of $1.73. As a group, research analysts predict that Synchrony Financial will post EPS of 5.63 for the current fiscal year.
Synchrony Financial said its board launched a stock buyback plan on Monday, April 18 that allows the company to repurchase $2.80 billion worth of 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 repurchase plans usually indicate that the company’s board of directors believe 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. The ex-dividend date was Friday, April 29. This represents an annualized dividend of $0.88 and a yield of 3.08%. Synchrony Financial’s payout ratio is 11.94%.
Several brokerages have recently weighed in on SYF. Stephens cut his price target on Synchrony Financial from $54.00 to $47.00 and set an “equal weight” rating on the stock in a Tuesday, April 19 report. Wolfe Research downgraded Synchrony Financial from a “peer performing” rating to an “underperforming” rating and set a price target of $22.00 for the stock. in a report on Thursday, May 12. Bank of America reduced its price target on Synchrony Financial from $52.00 to $45.00 in a Thursday, March 17 report. Goldman Sachs Group raised its price target on Synchrony Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a Tuesday, April 19 report. Finally, Piper Sandler lowered her price target on Synchrony Financial from $49.00 to $42.00 and set an “overweight” rating on the stock in a report released Wednesday. One financial analyst gave the stock a sell rating, five gave the company a hold rating and thirteen gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.61.
Synchrony Financial Company Profile (Get a rating)
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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