KC Investment Advisors LLC boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 10,716 shares of the financial services provider’s stock after acquiring an additional 300 shares during the period. KC Investment Advisors LLC’s holdings in Synchrony Financial were worth $520,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Harbour Investments Inc. bought a new stake in Synchrony Financial during the 1st quarter worth about $33,000. Capital Analysts LLC bought a new stake in Synchrony Financial during the 2nd quarter worth about $33,000. E Fund Management Co. Ltd. bought a new stake in Synchrony Financial during the 1st quarter worth about $39,000. Berman Capital Advisors LLC grew its holdings in Synchrony Financial by 100.2% during the 1st quarter. Berman Capital Advisors LLC now owns 1,067 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 534 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in Synchrony Financial by 147.1% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 902 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 537 shares during the period. 92.61% of the stock is currently owned by hedge funds and other institutional investors.
SYF has been the topic of a number of analyst reports. Barclays increased their price target on shares of Synchrony Financial from $52.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, July 9th. began coverage on shares of Synchrony Financial in a research note on Friday, July 9th. They set a “neutral” rating and a $51.00 price target for the company. Evercore ISI began coverage on shares of Synchrony Financial in a research note on Tuesday, June 15th. They issued a “buy” rating for the company. Seaport Res Ptn reissued a “buy” rating on shares of Synchrony Financial in a research note on Monday, August 30th. Finally, The Goldman Sachs Group boosted their price target on Synchrony Financial from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 6th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Synchrony Financial has an average rating of “Buy” and a consensus target price of $54.19.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Monday, July 19th. The financial services provider reported $2.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.65. The business had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $2.60 billion. Synchrony Financial had a net margin of 21.76% and a return on equity of 27.59%. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, sell-side analysts expect that Synchrony Financial will post 6.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 12th. Shareholders of record on Monday, August 2nd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $0.88 annualized dividend and a yield of 1.70%. Synchrony Financial’s payout ratio is currently 33.85%.
About Synchrony Financial
Synchrony Financial engages in the provision of consumer financial services. It operates through three sales platforms: Retail Card, Payment Solutions, and CareCredit. The Retail Card platform is a provider of private label credit cards, and also provides Dual Cards and small-and medium-sized business credit products.
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