Dimension Capital Management LLC Purchases New Stake in Synchrony Financial (SYF)
Dimension Capital Management LLC purchased a new position in shares of Synchrony Financial (NYSE:SYF) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,099 shares of the financial services provider’s stock, valued at approximately $407,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. lifted its position in Synchrony Financial by 32.1% during the 2nd quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 867 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Synchrony Financial by 9.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after buying an additional 486 shares during the last quarter. Highlander Capital Management LLC raised its stake in shares of Synchrony Financial by 83.6% during the 2nd quarter. Highlander Capital Management LLC now owns 5,492 shares of the financial services provider’s stock valued at $165,000 after buying an additional 2,500 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in shares of Synchrony Financial during the 3rd quarter valued at about $176,000. Finally, Sun Life Financial INC raised its stake in shares of Synchrony Financial by 40,207.1% during the 2nd quarter. Sun Life Financial INC now owns 5,643 shares of the financial services provider’s stock valued at $168,000 after buying an additional 5,629 shares during the last quarter. 85.77% of the stock is owned by institutional investors.
Shares of Synchrony Financial (NYSE:SYF) traded up $0.16 during trading on Monday, hitting $37.50. The company had a trading volume of 7,833,900 shares, compared to its average volume of 7,062,979. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.38. Synchrony Financial has a 1 year low of $26.01 and a 1 year high of $38.06. The stock has a market cap of $29,347.19, a price-to-earnings ratio of 14.31, a PEG ratio of 1.89 and a beta of 1.06.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.60%. The ex-dividend date was Friday, November 3rd. Synchrony Financial’s payout ratio is 22.90%.
In other news, Director Olympia J. Snowe acquired 3,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were bought at an average cost of $33.40 per share, for a total transaction of $100,200.00. Following the acquisition, the director now owns 10,608 shares in the company, valued at approximately $354,307.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 1,000 shares of Synchrony Financial stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $33.50, for a total value of $33,500.00. Following the completion of the sale, the insider now owns 113,578 shares in the company, valued at $3,804,863. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,961 shares of company stock worth $244,508. 0.03% of the stock is currently owned by insiders.
A number of equities analysts have weighed in on SYF shares. JMP Securities lifted their price objective on Synchrony Financial from $35.00 to $37.00 and gave the company a “market outperform” rating in a research note on Monday, October 23rd. Wells Fargo & Company lifted their price objective on Synchrony Financial from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Bank of America lowered Synchrony Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $33.00 in a research note on Friday, October 6th. Morgan Stanley lowered Synchrony Financial from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $35.00 to $32.00 in a research note on Friday, September 8th. Finally, Zacks Investment Research lowered Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Monday, September 25th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Synchrony Financial presently has an average rating of “Buy” and a consensus target price of $37.35.
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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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