Macquarie Group Ltd. Buys 296,923 Shares of Synchrony Financial (SYF)
Macquarie Group Ltd. increased its stake in Synchrony Financial (NYSE:SYF) by 120.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 543,529 shares of the company’s stock after buying an additional 296,923 shares during the period. Macquarie Group Ltd. owned approximately 0.07% of Synchrony Financial worth $13,740,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of SYF. Carnick & Kubik Group LLC bought a new stake in Synchrony Financial during the second quarter valued at $1,025,000. Highlander Capital Management LLC boosted its position in Synchrony Financial by 801.4% in the second quarter. Highlander Capital Management LLC now owns 40,492 shares of the company’s stock valued at $1,024,000 after buying an additional 36,000 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in Synchrony Financial by 13.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,831,484 shares of the company’s stock valued at $46,300,000 after buying an additional 212,828 shares during the period. Douglas Lane & Associates LLC boosted its position in Synchrony Financial by 9.0% in the second quarter. Douglas Lane & Associates LLC now owns 1,694,556 shares of the company’s stock valued at $42,838,000 after buying an additional 140,264 shares during the period. Finally, Herndon Capital Management LLC boosted its position in Synchrony Financial by 81.9% in the second quarter. Herndon Capital Management LLC now owns 2,483,013 shares of the company’s stock valued at $62,769,000 after buying an additional 1,118,108 shares during the period. Institutional investors own 85.94% of the company’s stock.
Shares of Synchrony Financial (NYSE:SYF) traded up 1.89% on Wednesday, hitting $34.44. The stock had a trading volume of 3,253,332 shares. The firm has a market cap of $28.43 billion, a P/E ratio of 12.95 and a beta of 0.89. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $35.02. The firm’s 50-day moving average price is $29.84 and its 200 day moving average price is $28.33.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 21st. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. Synchrony Financial had a net margin of 15.40% and a return on equity of 16.61%. During the same quarter last year, the firm earned $0.69 EPS. Analysts anticipate that Synchrony Financial will post $2.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Monday, November 7th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Thursday, November 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 19.55%.
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Several research firms recently issued reports on SYF. BTIG Research set a $42.00 price objective on Synchrony Financial and gave the company a “buy” rating in a research report on Sunday, October 23rd. Zacks Investment Research cut Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays PLC set a $41.00 price objective on Synchrony Financial and gave the company a “buy” rating in a research report on Monday, November 21st. Compass Point began coverage on Synchrony Financial in a research report on Friday, November 4th. They issued a “buy” rating and a $34.00 price objective on the stock. Finally, TheStreet raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $39.83.
In related news, insider Margaret M. Keane sold 6,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $34.00, for a total transaction of $204,000.00. Following the completion of the transaction, the insider now directly owns 367,206 shares in the company, valued at $12,485,004. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Margaret M. Keane sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the transaction, the insider now owns 361,206 shares of the company’s stock, valued at $10,836,180. The disclosure for this sale can be found here. Insiders own 0.02% of the company’s stock.
Synchrony Financial Company Profile
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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