Maryland State Retirement & Pension System reduced its position in shares of Synchrony Financial (NYSE: SYF – Get a rating) by 4.0% in the first quarter, according to the company in its most recent filing with the SEC. The company held 40,222 shares of the financial services provider after selling 1,677 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Synchrony Financial were worth $1,400,000 when it last filed with the SEC.
Other hedge funds and other institutional investors have also recently changed their holdings in the company. CVA Family Office LLC acquired a new position in Synchrony Financial during the fourth quarter worth approximately $30,000. Blue Bell Private Wealth Management LLC acquired a new stock position in Synchrony Financial in the fourth quarter worth approximately $30,000. Spire Wealth Management increased its holdings of Synchrony Financial shares 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 purchasing an additional 805 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings of Synchrony Financial shares by 115.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider valued at $45,000 after buying an additional 517 shares during the period. Finally, Andrew Hill Investment Advisors Inc. acquired a new position in shares of Synchrony Financial in the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors hold 98.26% of the company’s shares.
A number of brokerages have recently commented on SYF. Wolfe Research downgraded Synchrony Financial shares from a “peer performing” rating to an “underperforming” rating and set a price target of $22.00 for the stock. in a research report on Thursday, May 12. Piper Sandler upgraded Synchrony Financial shares from a “neutral” rating to an “overweight” rating and raised her price target for the stock from $48.00 to $49.00 in a research report from the Wednesday 6 April. StockNews.com moved shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Monday. Goldman Sachs Group raised its price target on Synchrony Financial shares from $40.00 to $45.00 and gave the stock a “buy” rating in a Tuesday, April 19 research report. Finally, Wells Fargo & Company lowered its price target on Synchrony Financial shares from $52.00 to $45.00 and set an “overweight” rating on the stock in a Wednesday, April 6 research report. . One research analyst gave the stock a sell rating, five gave the stock a hold rating and thirteen gave the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.00.
Shares of Synchrony Financial Action opened at $29.04 on Thursday. The company has a market capitalization of $14.56 billion, a price-earnings ratio of 3.94, a PEG ratio of 0.23 and a beta of 1.43. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt ratio of 1.05. Synchrony Financial has a 12-month low of $27.77 and a 12-month high of $52.49. The company’s 50-day moving average price is $35.18 and its two-hundred-day moving average price is $39.85.
Synchrony Financial (NYSE: SYF – Get a rating) last released its results on Monday, April 18. The financial services provider reported EPS of $1.73 for the quarter, beating analyst consensus estimates of $1.53 by $0.20. The company posted revenue of $3.79 billion in the quarter, versus $2.66 billion expected by analysts. Synchrony Financial had a net margin of 26.26% and a return on equity of 29.99%. In the same quarter of the previous year, the company had earned earnings per share of $1.73. On average, sell-side analysts expect Synchrony Financial to post earnings per share of 5.63 for the current year.
The company also recently announced 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 a dividend of $0.88 on an annualized basis and a dividend yield of 3.03%. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.94%.
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.
About Synchrony Financial (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, commercial 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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