Securian Asset Management Inc lessened its stake in shares of Synchrony Financial (NYSE:SYF) by 2.7% during the 4th quarter, Holdings Channel reports. The firm owned 66,975 shares of the financial services provider’s stock after selling 1,834 shares during the quarter. Securian Asset Management Inc’s holdings in Synchrony Financial were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in SYF. Taylor Hoffman Wealth Management purchased a new stake in Synchrony Financial during the 4th quarter worth approximately $39,000. Dubuque Bank & Trust Co. purchased a new stake in shares of Synchrony Financial in the 4th quarter valued at $43,000. Huntington National Bank boosted its holdings in shares of Synchrony Financial by 47.6% in the 4th quarter. Huntington National Bank now owns 1,908 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 615 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in shares of Synchrony Financial by 34.6% in the 4th quarter. First Mercantile Trust Co. now owns 4,550 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 1,170 shares during the last quarter. Finally, Ayalon Holdings Ltd. purchased a new stake in shares of Synchrony Financial in the 3rd quarter valued at $140,000. 84.28% of the stock is currently owned by institutional investors.
Several research firms have recently commented on SYF. Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a report on Thursday, November 1st. BMO Capital Markets upped their price objective on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 22nd. Stephens raised shares of Synchrony Financial from an “underweight” rating to an “equal weight” rating in a report on Thursday, January 3rd. ValuEngine raised shares of Synchrony Financial from a “strong sell” rating to a “sell” rating in a report on Friday, December 7th. Finally, TheStreet downgraded shares of Synchrony Financial from a “b-” rating to a “c+” rating in a report on Monday, November 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $37.71.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Synchrony Financial had a net margin of 15.45% and a return on equity of 19.41%. During the same period in the prior year, the business posted $0.70 earnings per share. As a group, equities research analysts predict that Synchrony Financial will post 4.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Monday, February 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Friday, February 1st. Synchrony Financial’s dividend payout ratio is presently 22.46%.
In other Synchrony Financial news, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $30.00, for a total transaction of $96,120.00. Following the completion of the transaction, the insider now directly owns 40,313 shares in the company, valued at $1,209,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David P. Melito sold 3,934 shares of the company’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $30.00, for a total transaction of $118,020.00. Following the transaction, the insider now owns 29,486 shares of the company’s stock, valued at $884,580. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.
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.
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