5,872 Shares in Synchrony Financial (NYSE:SYF) Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC acquired a new position in shares of Synchrony Financial (NYSE:SYFFree Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,872 shares of the financial services provider’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYF. Amalgamated Bank boosted its position in shares of Synchrony Financial by 0.8% in the 3rd quarter. Amalgamated Bank now owns 113,419 shares of the financial services provider’s stock worth $3,467,000 after buying an additional 881 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Synchrony Financial by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,422,790 shares of the financial services provider’s stock valued at $104,635,000 after purchasing an additional 16,817 shares in the last quarter. Shell Asset Management Co. grew its position in shares of Synchrony Financial by 91.6% in the third quarter. Shell Asset Management Co. now owns 86,957 shares of the financial services provider’s stock valued at $2,658,000 after purchasing an additional 41,563 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Synchrony Financial by 5.6% during the 3rd quarter. Van ECK Associates Corp now owns 13,703 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 729 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Synchrony Financial by 28.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 68,047 shares of the financial services provider’s stock valued at $2,080,000 after buying an additional 14,927 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Curtis Howse sold 31,562 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total value of $1,420,290.00. Following the completion of the transaction, the insider now directly owns 121,042 shares in the company, valued at $5,446,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Synchrony Financial Price Performance

SYF opened at $43.06 on Friday. The company has a 50 day moving average of $43.20 and a two-hundred day moving average of $39.90. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $46.72. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The company has a market cap of $17.29 billion, a P/E ratio of 6.18, a P/E/G ratio of 0.99 and a beta of 1.60.

Synchrony Financial (NYSE:SYFGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter in the prior year, the company posted $1.35 earnings per share. On average, analysts expect that Synchrony Financial will post 5.75 earnings per share for the current year.

Synchrony Financial declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 24th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Friday, May 3rd. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Analyst Ratings Changes

SYF has been the subject of a number of analyst reports. Bank of America boosted their price target on Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their target price on shares of Synchrony Financial from $42.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Wells Fargo & Company lifted their price target on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Morgan Stanley reissued an “underweight” rating and set a $30.00 price objective on shares of Synchrony Financial in a research note on Thursday, February 8th. Finally, StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Synchrony Financial presently has a consensus rating of “Hold” and a consensus price target of $43.74.

View Our Latest Stock Report on Synchrony Financial

Synchrony Financial Company Profile

(Free Report)

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 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, and sweep and affinity deposits, 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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