TCI Wealth Advisors Inc. lowered its position in Synchrony Financial (NYSE:SYF) by 29.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,421 shares of the financial services provider’s stock after selling 596 shares during the period. TCI Wealth Advisors Inc.’s holdings in Synchrony Financial were worth $45,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of SYF. Enlightenment Research LLC purchased a new stake in Synchrony Financial during the fourth quarter valued at about $28,000. JOYN Advisors Inc. increased its position in shares of Synchrony Financial by 33.7% during the fourth quarter. JOYN Advisors Inc. now owns 1,349 shares of the financial services provider’s stock valued at $32,000 after buying an additional 340 shares during the period. Taylor Hoffman Wealth Management bought a new stake in shares of Synchrony Financial during the fourth quarter valued at about $39,000. Dubuque Bank & Trust Co. bought a new stake in shares of Synchrony Financial during the fourth quarter valued at about $43,000. Finally, Huntington National Bank increased its position in shares of Synchrony Financial by 47.6% during the fourth quarter. Huntington National Bank now owns 1,908 shares of the financial services provider’s stock valued at $45,000 after buying an additional 615 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.
In other Synchrony Financial news, insider David P. Melito sold 3,204 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $32.00, for a total value of $102,528.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Melito sold 6,014 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $34.25, for a total value of $205,979.50. Following the completion of the transaction, the insider now owns 29,476 shares of the company’s stock, valued at approximately $1,009,553. The disclosure for this sale can be found here. Insiders sold 62,422 shares of company stock valued at $2,067,444 in the last ninety days. 0.32% of the stock is currently owned by insiders.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. Synchrony Financial had a return on equity of 19.79% and a net margin of 17.52%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the firm posted $0.83 earnings per share. Equities research analysts anticipate that Synchrony Financial will post 4.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Friday, May 3rd. Synchrony Financial’s payout ratio is 22.46%.
Several equities research analysts have recently weighed in on SYF shares. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Friday, February 8th. CIBC upgraded shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Thursday, January 24th. ValuEngine upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Wednesday, January 30th. Finally, Stephens restated a “hold” rating and issued a $34.00 price objective on shares of Synchrony Financial in a research report on Sunday, January 27th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $37.36.
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Synchrony Financial Company Profile
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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