Ellevest Inc. increased its stake in Synchrony Financial (NYSE: SYF – Get a rating) by 40.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The company held 6,017 shares of the financial services provider after acquiring an additional 1,724 shares during the quarter. Ellevest Inc.’s holdings in Synchrony Financial were worth $209,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new stock position in Synchrony Financial in the fourth quarter worth approximately $30,000. Blue Bell Private Wealth Management LLC purchased a new stake in Synchrony Financial in the fourth quarter worth approximately $30,000. Spire Wealth Management increased its stake in Synchrony Financial by 1,219.7% in the fourth quarter. Spire Wealth Management now owns 871 shares of the financial services provider worth $40,000 after buying an additional 805 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Synchrony Financial by 115.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider worth $45,000 after buying 517 more shares in the last quarter. Finally, Andrew Hill Investment Advisors Inc. acquired a new stake in Synchrony Financial in the fourth quarter worth approximately $46,000. 98.26% of the shares are currently held by institutional investors.
Shares of Synchrony Financial Action opened at $28.59 on Friday. The stock has a fifty-day simple moving average of $33.71 and a 200-day simple moving average of $38.96. Synchrony Financial has a 12-month low of $27.22 and a 12-month high of $52.49. The company has a market capitalization of $14.34 billion, a P/E ratio of 3.88, a price-to-earnings growth ratio of 0.23, and a beta of 1.43. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt ratio of 1.05.
Synchrony Financial (NYSE: SYF – Get a rating) last announced its quarterly results 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 earnings per share of $1.73. On average, analysts predict that Synchrony Financial will post 5.63 EPS for the current year.
Synchrony Financial said its board authorized a stock buyback program on Monday, April 18 that allows the company to repurchase $2.80 billion in outstanding stock. This repurchase authorization allows the financial services provider to buy up to 13.6% of its shares through purchases on the open market. Stock buyback programs usually indicate that the company’s management 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. 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 dividend payout ratio is currently 11.94%.
A number of equity research analysts have weighed in on the company. StockNews.com downgraded Synchrony Financial from a “buy” to a “hold” rating in a report on Thursday. Wolfe Research downgraded Synchrony Financial from a “peer performing” rating to an “underperforming” rating and set a target price of $22.00 for the company. in a report on Thursday, May 12. Bank of America lowered its target price on Synchrony Financial from $52.00 to $45.00 in a Thursday, March 17 report. Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equally weighted” rating and lowered its price target for the company from $56.00 to $40.00 in a Monday, March 28 report. Finally, Piper Sandler cut her price target on Synchrony Financial from $49.00 to $42.00 and set an “overweight” rating for the company in a report released Wednesday. One analyst has assigned the stock a sell rating, six have issued a hold rating and twelve have assigned the stock a buy rating. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.61.
Synchrony financial 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, 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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