Weiss Asset Management LP Buys New Position in Synchrony Financial (NYSE:SYF)

Weiss Asset Management LP acquired a new stake in shares of Synchrony Financial (NYSE:SYFFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 67,879 shares of the financial services provider’s stock, valued at approximately $2,592,000.

A number of other institutional investors have also recently bought and sold shares of SYF. Massmutual Trust Co. FSB ADV boosted its position in Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Synchrony Financial in the fourth quarter worth $55,000. Principal Securities Inc. acquired a new stake in shares of Synchrony Financial during the 4th quarter valued at about $60,000. Private Trust Co. NA grew its stake in shares of Synchrony Financial by 13.4% in the 4th quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 320 shares during the period. Finally, Systematic Alpha Investments LLC acquired a new position in Synchrony Financial during the third quarter worth $100,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

NYSE SYF traded up $0.58 during trading hours on Thursday, hitting $42.96. The company’s stock had a trading volume of 987,613 shares, compared to its average volume of 4,370,073. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23. The company has a market cap of $17.25 billion, a P/E ratio of 6.16, a price-to-earnings-growth ratio of 1.00 and a beta of 1.58. The company’s 50 day simple moving average is $43.07 and its two-hundred day simple moving average is $39.41. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $46.72.

Synchrony Financial (NYSE:SYFGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter last year, the company earned $1.35 EPS. As a group, sell-side analysts expect that Synchrony Financial will post 5.75 EPS for the current fiscal year.

Synchrony Financial announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 24th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 5.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Friday, May 3rd. Synchrony Financial’s dividend payout ratio is 14.35%.

Insiders Place Their Bets

In other news, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now owns 660,353 shares in the company, valued at approximately $27,246,164.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brian D. Doubles sold 134,696 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the transaction, the insider now directly owns 660,353 shares in the company, valued at approximately $27,246,164.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the sale, the insider now owns 152,604 shares in the company, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,437 shares of company stock valued at $7,242,432. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on SYF shares. Bank of America increased their target price on Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Barclays raised their target price on shares of Synchrony Financial from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. TD Cowen increased their target price on shares of Synchrony Financial from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price target on Synchrony Financial from $42.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Morgan Stanley reissued an “underweight” rating and set a $30.00 target price on shares of Synchrony Financial in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.74.

View Our Latest Analysis on Synchrony Financial

About Synchrony Financial

(Free Report)

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 co-brand 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.

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

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