Synchrony Financial (SYF) Position Lifted by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans lifted its position in shares of Synchrony Financial (NYSE:SYF) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,135,368 shares of the financial services provider’s stock after purchasing an additional 4,628 shares during the period. Thrivent Financial For Lutherans owned 0.39% of Synchrony Financial worth $93,497,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYF. BlackRock Inc. lifted its position in shares of Synchrony Financial by 2,275.1% during the first quarter. BlackRock Inc. now owns 48,272,035 shares of the financial services provider’s stock valued at $1,655,730,000 after purchasing an additional 46,239,640 shares in the last quarter. Boston Partners lifted its position in shares of Synchrony Financial by 39.3% during the second quarter. Boston Partners now owns 12,891,959 shares of the financial services provider’s stock valued at $384,439,000 after purchasing an additional 3,637,487 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Synchrony Financial by 46.7% during the first quarter. JPMorgan Chase & Co. now owns 10,529,375 shares of the financial services provider’s stock valued at $361,158,000 after purchasing an additional 3,354,021 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Synchrony Financial during the first quarter valued at about $106,320,000. Finally, Morgan Stanley lifted its position in shares of Synchrony Financial by 66.3% during the first quarter. Morgan Stanley now owns 7,059,204 shares of the financial services provider’s stock valued at $242,130,000 after purchasing an additional 2,814,215 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.
Synchrony Financial (NYSE SYF) traded up 1.11% during trading on Friday, hitting $29.02. 11,003,615 shares of the stock traded hands. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06. The company has a market cap of $23.08 billion, a P/E ratio of 10.90 and a beta of 1.01. The firm has a 50-day moving average price of $29.97 and a 200 day moving average price of $30.66.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.59 billion. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. During the same period in the prior year, the firm posted $0.58 EPS. On average, equities analysts expect that Synchrony Financial will post $2.60 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 7th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.07%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, August 3rd. Synchrony Financial’s dividend payout ratio is currently 22.64%.
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A number of research analysts recently weighed in on SYF shares. Morgan Stanley lowered shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $35.00 to $32.00 in a research report on Friday, September 8th. BMO Capital Markets restated a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a report on Friday, August 25th. BidaskClub upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. TheStreet upgraded shares of Synchrony Financial from a “c” rating to a “b” rating in a report on Monday, July 31st. Finally, ValuEngine downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $37.42.
In other news, Director Paget Leonard Alves bought 2,000 shares of Synchrony Financial stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average cost of $30.85 per share, with a total value of $61,700.00. Following the acquisition, the director now owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.03% of the company’s stock.
About Synchrony Financial
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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