Hartford Investment Management Co. raised its position in shares of Synchrony Financial (NYSE:SYF – Get Rating ) by 14.0% during the first quarter, HoldingsChannel reports. The fund owned 63,577 shares of the financial services provider’s stock after buying an additional 7,807 shares during the period. Hartford Investment Management Co.’s holdings. in Synchrony Financial were worth $2,213,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYF. Baird Financial Group Inc. raised its stake in shares of Synchrony Financial by 0.9% in the fourth quarter. Baird Financial Group Inc. now owns 25,965 shares of the financial services provider’s stock valued at $1,205,000 after buying an additional 235 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Synchrony Financial by 17.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,588 shares of the financial services provider’s stock valued at $73,000 after buying an additional 240 shares during the period. Venture Visionary Partners LLC lifted its stake in shares of Synchrony Financial by 2.1% in the 4th quarter. Venture Visionary Partners LLC now owns 12,615 shares of the financial services provider’s stock valued at $585,000 after buying an additional 255 shares during the period. Camden Capital LLC raised its stake in shares of Synchrony Financial by 4.7% during the fourth quarter. Camden Capital LLC now owns 6,108 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 274 shares during the period. Finally, Maverick Capital Ltd. raised its stake in shares of Synchrony Financial by 11.6% during the 4th quarter. Maverick Capital Ltd. now owns 2,820 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 294 shares during the period. 98.26% of the shares are currently owned by institutional investors.
Shares of NYSE SYF opened at $28.59 on Monday. Synchrony Financial has a 12-month low of $27.22 and a 12-month high of $52.49. The company has a current ratio of 1.24, a quick ratio of 1.18, and a debt-to-equity ratio of 1.05. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 3.88, a PEG ratio of 0.22 and a beta of 1.52. The business has a 50 day moving average of $33.71 and a 200 day moving average of $38.84.
Synchrony Financial (NYSE:SYF – Get Rating ) last issued its quarterly earnings data on Monday, April 18th. The financial services provider reported $1.73 EPS for the quarter, topping 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 had revenue of $3.79 billion during the quarter, compared to analysts’ estimates of $2.66 billion. In the same quarter last year, the firm earned $1.73 earnings per share. On average, analysts predict that Synchrony Financial will post 5.63 earnings per share for the current year.
Synchrony Financial declared that its board has authorized a stock buyback plan on Monday, April 18th that permits the company to repurchase $2.80 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 13.6% of its shares through open market purchases. Stock buyback plans are often an indication that a company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 2nd were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, April 29th. This represents an annualized dividend of $0.88 and a dividend yield of 3.08%. Synchrony Financial’s payout ratio is 11.94%.
A number of equities analysts recently commented on the company. Stephens dropped their target price on Synchrony Financial from $54.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 19th. BMO Capital Markets boosted their price objective on Synchrony Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, April 19th. Goldman Sachs Group lifted their price objective on Synchrony Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, April 19th. Piper Sandler reduced their price objective on Synchrony Financial from $49.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, June 29th. Finally, Wells Fargo & Company reduced their price objective on Synchrony Financial from $52.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.61, according to MarketBeat .
Synchrony Finance Company Profile (Get Rating)
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. Provides credit products such as credit cards, commercial credit products and consumer installment loans. The company also offers private credit cards, dual cards, co-branded and general purpose credit cards, short-term 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, and accepts deposits through third-party securities brokerage firms.
Want to see what other hedge funds hold SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF – Get Rating) .
Get news and ratings for Synchrony Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Synchrony Financial and related companies with MarketBeat.com’s FREE daily email newsletter.