Today, Synchrony Financial (SYF) Position Increased by Advisors Asset Management Inc.

Today, Synchrony Financial (SYF) Position Increased by Advisors Asset Management Inc.
Advisors Asset Management Inc. boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 328.5% during the third quarter, Holdings Channel reports. The fund owned 32,232 shares of the company’s stock after buying an additional 24,710 shares during the period. Advisors Asset Management Inc.’s holdings in Synchrony Financial were worth $902,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Albert D Mason Inc. increased its stake in shares of Synchrony Financial by 2.2% in the second quarter. Albert D Mason Inc. now owns 38,564 shares of the company’s stock valued at $975,000 after buying an additional 844 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Synchrony Financial by 16.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 9,440 shares of the company’s stock valued at $239,000 after buying an additional 1,335 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Synchrony Financial during the second quarter valued at about $3,792,000. Heritage Investors Management Corp increased its stake in shares of Synchrony Financial by 14.0% in the second quarter. Heritage Investors Management Corp now owns 434,790 shares of the company’s stock valued at $10,991,000 after buying an additional 53,371 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Synchrony Financial by 3.1% in the second quarter. Capstone Asset Management Co. now owns 61,535 shares of the company’s stock valued at $1,556,000 after buying an additional 1,851 shares in the last quarter. 88.24% of the stock is owned by hedge funds and other institutional investors.

Shares of Synchrony Financial (NYSE:SYF) traded up 2.91% during mid-day trading on Thursday, reaching $34.96. 11,404,334 shares of the company’s stock traded hands. The company has a market cap of $28.86 billion, a P/E ratio of 13.14 and a beta of 0.89. The firm has a 50-day moving average of $29.37 and a 200 day moving average of $28.30. Synchrony Financial has a 12-month low of $23.25 and a 12-month high of $35.02.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 21st. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.04. Synchrony Financial had a net margin of 15.40% and a return on equity of 16.61%. During the same quarter last year, the firm posted $0.69 earnings per share. Equities analysts forecast that Synchrony Financial will post $2.68 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Monday, November 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.49%. Synchrony Financial’s payout ratio is 19.55%.

Several equities research analysts have recently issued reports on the stock. BTIG Research set a $42.00 price objective on shares of Synchrony Financial and gave the stock a “buy” rating in a research report on Sunday, October 23rd. Zacks Investment Research downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Wednesday. Vetr downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating and set a $36.22 price objective for the company. in a research report on Thursday. Barclays PLC set a $41.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a research report on Monday. Finally, Compass Point initiated coverage on shares of Synchrony Financial in a research report on Friday, November 4th. They issued a “buy” rating and a $34.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Synchrony Financial presently has an average rating of “Buy” and an average price target of $39.83.

In other news, insider Margaret M. Keane sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $30.00, for a total value of $60,000.00. Following the completion of the sale, the insider now owns 361,206 shares in the company, valued at approximately $10,836,180. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David P. Melito sold 2,159 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $33.54, for a total transaction of $72,412.86. Following the completion of the sale, the insider now owns 40,863 shares of the company’s stock, valued at approximately $1,370,545.02. The disclosure for this sale can be found here. 0.02% of the stock is currently owned by insiders.

Synchrony Financial Company Profile

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Related posts

Leave a Comment