The Manufacturers Life Insurance Company Has $10.04 Million Position in Synchrony Financial (NYSE:SYF)
The Manufacturers Life Insurance Company lessened its position in shares of Synchrony Financial (NYSE:SYF – Free Report) by 91.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 295,870 shares of the financial services provider’s stock after selling 3,048,684 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Synchrony Financial worth $10,036,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in SYF. Cambridge Investment Research Advisors Inc. increased its stake in shares of Synchrony Financial by 8.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,251 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 1,205 shares during the last quarter. Panagora Asset Management Inc. grew its position in Synchrony Financial by 30.3% in the first quarter. Panagora Asset Management Inc. now owns 33,337 shares of the financial services provider’s stock valued at $1,160,000 after acquiring an additional 7,753 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Synchrony Financial by 1.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 69,748 shares of the financial services provider’s stock worth $2,428,000 after acquiring an additional 1,057 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Synchrony Financial by 2.3% in the 1st quarter. Yousif Capital Management LLC now owns 101,114 shares of the financial services provider’s stock valued at $3,520,000 after purchasing an additional 2,310 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of Synchrony Financial by 0.9% during the 1st quarter. National Pension Service now owns 962,162 shares of the financial services provider’s stock valued at $33,493,000 after purchasing an additional 8,110 shares during the last quarter. Institutional investors and hedge funds own 94.72% of the company’s stock.
Analysts Set New Price Targets
SYF has been the subject of several research reports. The Goldman Sachs Group dropped their price objective on shares of Synchrony Financial from $40.00 to $37.00 in a research note on Monday, October 2nd. Barclays initiated coverage on Synchrony Financial in a research report on Wednesday, November 15th. They set an “equal weight” rating and a $31.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $35.00 target price on shares of Synchrony Financial in a research report on Tuesday, November 28th. JPMorgan Chase & Co. reduced their price target on Synchrony Financial from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, October 17th. Finally, StockNews.com lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.76.
Get Our Latest Stock Analysis on SYF
Synchrony Financial Stock Performance
SYF stock opened at $33.83 on Friday. The firm has a market cap of $14.00 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 1.48 and a beta of 1.63. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.17. The stock has a 50-day moving average price of $29.59 and a 200-day moving average price of $31.85. Synchrony Financial has a 1-year low of $26.59 and a 1-year high of $37.99.
Synchrony Financial (NYSE:SYF – Get Free Report) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $4.29 billion. Synchrony Financial had a return on equity of 18.82% and a net margin of 11.79%. During the same period in the previous year, the company posted $1.47 earnings per share. As a group, equities research analysts expect that Synchrony Financial will post 5.16 earnings per share for the current year.
Synchrony Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Wednesday, November 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Tuesday, October 31st. Synchrony Financial’s payout ratio is 18.48%.
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 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.
Featured Stories
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 – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Synchrony Financial, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Synchrony Financial wasn’t on the list.
While Synchrony Financial currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of seven stocks and why their long-term outlooks are very promising.