Mackenzie Financial Corp Has $3.50 Million Position in Synchrony Financial (NYSE:SYF)

Mackenzie Financial Corp lessened its position in Synchrony Financial (NYSE:SYFGet Rating) by 76.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 126,751 shares of the financial services provider’s stock after selling 412,392 shares during the period. Mackenzie Financial Corp’s holdings in Synchrony Financial were worth $3,501,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Synchrony Financial during the 2nd quarter worth about $28,000. Quent Capital LLC increased its position in shares of Synchrony Financial by 50.1% during the 1st quarter. Quent Capital LLC now owns 1,003 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 335 shares in the last quarter. Clear Street Markets LLC increased its position in shares of Synchrony Financial by 392.0% during the 2nd quarter. Clear Street Markets LLC now owns 1,048 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 835 shares in the last quarter. Column Capital Advisors LLC acquired a new stake in shares of Synchrony Financial during the 1st quarter worth about $37,000. Finally, Covestor Ltd increased its position in shares of Synchrony Financial by 138.8% during the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 644 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF opened at $35.89 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.21 and a current ratio of 1.21. Synchrony Financial has a twelve month low of $27.22 and a twelve month high of $50.30. The firm’s 50 day moving average price is $32.96 and its two-hundred day moving average price is $32.88. The firm has a market cap of $16.17 billion, a P/E ratio of 5.68, a PEG ratio of 0.87 and a beta of 1.61.

Synchrony Financial (NYSE:SYFGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Synchrony Financial had a net margin of 19.47% and a return on equity of 25.56%. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.84 billion. On average, analysts forecast that Synchrony Financial will post 5.91 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Tuesday, November 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Monday, October 31st. Synchrony Financial’s payout ratio is currently 14.56%.

Insider Buying and Selling at Synchrony Financial

In other news, insider Carol Juel sold 31,303 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $40.00, for a total value of $1,252,120.00. Following the sale, the insider now directly owns 55,929 shares in the company, valued at $2,237,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SYF. Credit Suisse Group raised their price objective on shares of Synchrony Financial from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, October 26th. Morgan Stanley lowered their price objective on shares of Synchrony Financial from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 5th. Bank of America raised their target price on shares of Synchrony Financial from $39.00 to $45.00 in a research note on Tuesday, November 15th. TheStreet raised shares of Synchrony Financial from a “c+” rating to a “b-” rating in a research note on Tuesday, November 1st. Finally, Citigroup raised their target price on shares of Synchrony Financial from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $39.79.

Synchrony Financial Company Profile

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Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual cards, co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

Further Reading

Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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