UBS Asset Management Americas Inc. decreased its position in Synchrony Financial (NYSE:SYF) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,322,516 shares of the financial services provider’s stock after selling 381,290 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Synchrony Financial were worth $115,325,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Public Sector Pension Investment Board lifted its stake in shares of Synchrony Financial by 25.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 64,997 shares of the financial services provider’s stock valued at $1,701,000 after purchasing an additional 13,200 shares during the last quarter. Engineers Gate Manager LP increased its holdings in shares of Synchrony Financial by 22.1% during the 3rd quarter. Engineers Gate Manager LP now owns 34,190 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 6,180 shares during the last quarter. Azora Capital LP acquired a new stake in Synchrony Financial in the 3rd quarter worth approximately $1,771,000. ExodusPoint Capital Management LP bought a new stake in Synchrony Financial during the third quarter worth approximately $1,302,000. Finally, Squarepoint Ops LLC acquired a new position in Synchrony Financial during the third quarter valued at approximately $806,000. 91.13% of the stock is currently owned by hedge funds and other institutional investors.
In other Synchrony Financial news, insider David P. Melito sold 4,737 shares of Synchrony Financial stock in a transaction on Thursday, January 28th. The stock was sold at an average price of $34.83, for a total value of $164,989.71. Following the completion of the transaction, the insider now owns 26,812 shares in the company, valued at approximately $933,861.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Whynott sold 20,480 shares of the business’s stock in a transaction on Tuesday, March 2nd. The stock was sold at an average price of $39.76, for a total value of $814,284.80. Insiders sold a total of 27,422 shares of company stock worth $1,072,237 over the last three months. 0.45% of the stock is owned by company insiders.
Shares of SYF stock opened at $42.49 on Thursday. The stock’s fifty day simple moving average is $40.40 and its 200 day simple moving average is $33.95. Synchrony Financial has a one year low of $14.02 and a one year high of $43.61. The firm has a market cap of $24.81 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.92 and a beta of 1.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.21 and a quick ratio of 1.21.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Thursday, January 28th. The financial services provider reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.33. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $2.72 billion. Synchrony Financial had a net margin of 8.16% and a return on equity of 12.73%. During the same quarter in the previous year, the company earned $1.10 EPS. On average, research analysts anticipate that Synchrony Financial will post 2.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 16th. Stockholders of record on Friday, February 5th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, February 4th. Synchrony Financial’s dividend payout ratio (DPR) is currently 20.51%.
Synchrony Financial announced that its board has authorized a stock repurchase plan on Tuesday, January 26th that authorizes the company to repurchase $1.60 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Synchrony Financial Profile
Synchrony Financial operates as a consumer financial services company in the United States. It provides a range of specialized financing programs and consumer banking products to digital, retail, home, auto, travel, health, and pet industries. The company also 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, dual cards, and installment loans.
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