Great West Life Assurance Co. Can lifted its position in Synchrony Financial (NYSE:SYF) by 5.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 915,349 shares of the financial services provider’s stock after buying an additional 45,304 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Synchrony Financial were worth $28,484,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of SYF. Assetmark Inc. grew its stake in Synchrony Financial by 98.1% during the 2nd quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 2,143 shares in the last quarter. Ayalon Holdings Ltd. acquired a new position in Synchrony Financial during the 3rd quarter worth $140,000. Dynamic Advisor Solutions LLC acquired a new position in Synchrony Financial during the 2nd quarter worth $212,000. Markel Corp acquired a new position in Synchrony Financial during the 2nd quarter worth $221,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Synchrony Financial during the 3rd quarter worth $211,000. Hedge funds and other institutional investors own 85.21% of the company’s stock.
Several research firms recently commented on SYF. Bank of America cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Wednesday, September 26th. ValuEngine raised Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 14th. Zacks Investment Research raised Synchrony Financial from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Monday, October 8th. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research note on Monday, August 6th. Finally, BMO Capital Markets boosted their target price on Synchrony Financial from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Synchrony Financial has an average rating of “Hold” and an average target price of $37.06.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, October 19th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.11. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Synchrony Financial had a return on equity of 17.90% and a net margin of 13.70%. During the same period in the prior year, the firm posted $0.70 EPS. As a group, research analysts forecast that Synchrony Financial will post 3.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 5th were given a dividend of $0.21 per share. The ex-dividend date was Friday, November 2nd. This represents a $0.84 annualized dividend and a dividend yield of 3.23%. Synchrony Financial’s dividend payout ratio is currently 32.06%.
About Synchrony Financial
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.
Further Reading: Liquidity
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