Jennison Associates LLC purchased a new stake in Synchrony Financial (NYSE:SYF) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 60,241 shares of the financial services provider’s stock, valued at approximately $1,922,000.
Several other large investors also recently bought and sold shares of SYF. BlackRock Inc. increased its stake in Synchrony Financial by 3.3% during the fourth quarter. BlackRock Inc. now owns 46,496,604 shares of the financial services provider’s stock worth $1,090,810,000 after acquiring an additional 1,503,876 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Synchrony Financial by 2.4% in 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 buying an additional 452,123 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Synchrony Financial by 7.1% in 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 buying an additional 686,204 shares in the last quarter. CI Investments Inc. grew its stake in shares of Synchrony Financial by 15.5% in 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 buying an additional 1,332,748 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Synchrony Financial by 0.3% in 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 buying an additional 19,276 shares in the last quarter. 85.10% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on SYF. Zacks Investment Research cut Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. ValuEngine raised Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research note on Friday, May 3rd. Wells Fargo & Co reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Wednesday, March 13th. Finally, Morgan Stanley lifted their price objective on Synchrony Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Synchrony Financial has a consensus rating of “Buy” and an average price target of $37.47.
NYSE:SYF traded down $0.31 during midday trading on Wednesday, reaching $33.74. The company had a trading volume of 1,230,337 shares, compared to its average volume of 6,641,663. The firm has a market cap of $23.41 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.23. Synchrony Financial has a 12-month low of $21.77 and a 12-month high of $35.56. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 1.49.
Synchrony Financial (NYSE:SYF) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.12. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.29 billion. Synchrony Financial had a return on equity of 19.79% and a net margin of 17.52%. During the same period last year, the business posted $0.83 earnings per share. Equities analysts forecast that Synchrony Financial will post 4.28 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.49%. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.46%.
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Synchrony Financial 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.
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