Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 2,107 Shares of Synchrony Financial (SYF)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 5.8% in the first quarter, HoldingsChannel.com reports. The fund owned 38,180 shares of the financial services provider’s stock after acquiring an additional 2,107 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Synchrony Financial were worth $1,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SYF. BlackRock Inc. raised its holdings in Synchrony Financial by 3.3% in the fourth quarter. BlackRock Inc. now owns 46,496,604 shares of the financial services provider’s stock worth $1,090,810,000 after buying an additional 1,503,876 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Synchrony Financial by 2.4% during the first quarter. Janus Henderson Group PLC now owns 19,243,280 shares of the financial services provider’s stock valued at $613,859,000 after purchasing an additional 452,123 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Synchrony Financial by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 10,348,447 shares of the financial services provider’s stock valued at $242,414,000 after purchasing an additional 686,204 shares during the last quarter. CI Investments Inc. raised its holdings in shares of Synchrony Financial by 15.5% during the fourth quarter. CI Investments Inc. now owns 9,911,915 shares of the financial services provider’s stock valued at $232,534,000 after purchasing an additional 1,332,748 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Synchrony Financial by 0.3% during the fourth quarter. Northern Trust Corp now owns 7,298,832 shares of the financial services provider’s stock valued at $171,232,000 after purchasing an additional 19,276 shares during the last quarter. 89.46% of the stock is owned by institutional investors.

Shares of NYSE SYF opened at $35.00 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.39 and a quick ratio of 1.27. The company has a market cap of $24.06 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 1.07 and a beta of 1.30. Synchrony Financial has a 12-month low of $21.77 and a 12-month high of $36.32.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.12. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.29 billion. Synchrony Financial had a net margin of 17.52% and a return on equity of 19.79%. During the same period in the previous year, the business posted $0.83 earnings per share. Equities research analysts anticipate that Synchrony Financial will post 4.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.40%. Synchrony Financial’s dividend payout ratio (DPR) is 22.46%.

Several research analysts have recently weighed in on SYF shares. Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Friday, February 8th. CIBC raised shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a report on Thursday, January 24th. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price objective on shares of Synchrony Financial in a report on Friday, May 3rd. Finally, Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Wednesday, January 30th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Synchrony Financial currently has an average rating of “Buy” and a consensus price target of $37.47.

In related news, insider David P. Melito sold 3,204 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $32.00, for a total transaction of $102,528.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Henry F. Greig sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $33.00, for a total transaction of $1,650,000.00. The disclosure for this sale can be found here. Insiders have sold 62,422 shares of company stock valued at $2,067,444 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

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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.

Read More: Earnings Per Share

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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