Chartwell Investment Partners LLC Grows Position in Synchrony Financial (SYF)
Chartwell Investment Partners LLC grew its stake in shares of Synchrony Financial (NYSE:SYF) by 67.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,375 shares of the financial services provider’s stock after purchasing an additional 19,840 shares during the period. Chartwell Investment Partners LLC’s holdings in Synchrony Financial were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in SYF. First Mercantile Trust Co. acquired a new position in shares of Synchrony Financial during the second quarter valued at about $120,000. Summit Trail Advisors LLC raised its stake in Synchrony Financial by 3,393.6% during the 1st quarter. Summit Trail Advisors LLC now owns 126,118 shares of the financial services provider’s stock worth $126,000 after buying an additional 122,508 shares during the period. Bedel Financial Consulting Inc. acquired a new position in Synchrony Financial during the 1st quarter worth approximately $142,000. Assetmark Inc. raised its stake in Synchrony Financial by 98.1% during the 2nd quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock worth $144,000 after buying an additional 2,143 shares during the period. Finally, AdvisorNet Financial Inc raised its stake in Synchrony Financial by 111.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 5,202 shares of the financial services provider’s stock worth $174,000 after buying an additional 2,744 shares during the period. Hedge funds and other institutional investors own 85.03% of the company’s stock.
A number of research firms recently weighed in on SYF. Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Monday, August 6th. UBS Group raised Synchrony Financial from a “sell” rating to a “neutral” rating and upped their target price for the stock from $32.00 to $33.00 in a research report on Friday, August 3rd. ValuEngine lowered Synchrony Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 1st. Compass Point reaffirmed a “buy” rating and set a $39.00 target price on shares of Synchrony Financial in a research report on Monday, July 30th. Finally, BMO Capital Markets lowered their target price on Synchrony Financial from $51.00 to $37.00 and set an “outperform” rating on the stock in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $38.44.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.10. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.82 billion. Synchrony Financial had a return on equity of 16.96% and a net margin of 13.39%. During the same period in the prior year, the firm posted $0.61 EPS. equities research analysts predict that Synchrony Financial will post 3.41 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Monday, August 6th were given a $0.21 dividend. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.15. This represents a $0.84 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Friday, August 3rd. Synchrony Financial’s dividend payout ratio is presently 32.06%.
In other news, Director Roy A. Guthrie bought 10,000 shares of the stock in a transaction dated Monday, July 30th. The stock was bought at an average price of $29.53 per share, for a total transaction of $295,300.00. Following the completion of the acquisition, the director now directly owns 47,997 shares in the company, valued at approximately $1,417,351.41. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
Synchrony Financial Company 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.
Featured Article: Asset Allocation, Balancing Your Investments
Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF).
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.