Trade Report: The Advisory Services Network LLC Boosts Position in Synchrony Financial (SYF)

The Advisory Services Network LLC Boosts Position in Synchrony Financial (SYF)

Advisory Services Network LLC boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 20.3% during the third quarter, Holdings Channel reports. The fund owned 8,796 shares of the company’s stock after buying an additional 1,487 shares during the period. Advisory Services Network LLC’s holdings in Synchrony Financial were worth $246,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SYF. Osborn Rohs Williams & Donohoe Ltd boosted its stake in Synchrony Financial by 88.1% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 23,490 shares of the company’s stock valued at $594,000 after buying an additional 11,000 shares during the last quarter. British Columbia Investment Management Corp raised its position in Synchrony Financial by 32.9% in the second quarter. British Columbia Investment Management Corp now owns 487,087 shares of the company’s stock valued at $12,314,000 after buying an additional 120,653 shares during the last quarter. Daiwa SB Investments Ltd. raised its position in Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock valued at $130,000 after buying an additional 410 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its position in Synchrony Financial by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 215,860 shares of the company’s stock valued at $5,457,000 after buying an additional 12,843 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in Synchrony Financial by 6.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 885,105 shares of the company’s stock valued at $22,375,000 after buying an additional 57,230 shares during the last quarter. 88.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of Synchrony Financial (NYSE:SYF) traded down 0.74% on Friday, reaching $34.70. 3,022,536 shares of the company traded hands. The company has a 50-day moving average of $29.63 and a 200-day moving average of $28.33. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $35.02. The stock has a market capitalization of $28.64 billion, a price-to-earnings ratio of 13.05 and a beta of 0.89.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company earned $0.69 earnings per share. Analysts anticipate that Synchrony Financial will post $2.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Monday, November 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.50%. Synchrony Financial’s dividend payout ratio is currently 19.55%.

Several equities analysts have recently issued reports on SYF shares. Zacks Investment Research upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Wednesday, August 17th. Deutsche Bank AG reiterated a “buy” rating and set a $31.50 target price on shares of Synchrony Financial in a report on Thursday, August 18th. Nomura reiterated a “buy” rating and set a $34.00 target price on shares of Synchrony Financial in a report on Thursday, September 22nd. Credit Suisse Group AG set a $37.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a report on Thursday, September 22nd. Finally, Wedbush started coverage on shares of Synchrony Financial in a report on Monday, October 10th. They set an “outperform” rating and a $31.00 target price for the company. Three 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. The stock currently has an average rating of “Buy” and a consensus price target of $39.83.

In other Synchrony Financial news, insider Margaret M. Keane sold 2,000 shares of the firm’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 transaction, the insider now owns 361,206 shares of the company’s stock, valued at $10,836,180. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Margaret M. Keane sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $34.00, for a total transaction of $204,000.00. Following the completion of the transaction, the insider now directly owns 367,206 shares of the company’s stock, valued at approximately $12,485,004. The disclosure for this sale can be found here. 0.02% of the stock is currently owned by company 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.

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