EverSource Wealth Advisors LLC Reduces Holdings in Synchrony Financial (NYSE:SYF)

EverSource Wealth Advisors LLC reduced its position in Synchrony Financial (NYSE:SYFFree Report) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,011 shares of the financial services provider’s stock after selling 268 shares during the period. EverSource Wealth Advisors LLC’s holdings in Synchrony Financial were worth $77,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV boosted its holdings in Synchrony Financial by 44.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of Synchrony Financial during the fourth quarter worth approximately $55,000. Principal Securities Inc. bought a new stake in shares of Synchrony Financial in the fourth quarter worth $60,000. Private Trust Co. NA raised its holdings in Synchrony Financial by 13.4% in the fourth quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 320 shares in the last quarter. Finally, Systematic Alpha Investments LLC bought a new position in Synchrony Financial during the 3rd quarter valued at $100,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Curtis Howse sold 31,562 shares of Synchrony Financial stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the completion of the transaction, the insider now directly owns 121,042 shares of the company’s stock, valued at approximately $5,446,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the sale, the insider now owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Curtis Howse sold 31,562 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the completion of the transaction, the insider now directly owns 121,042 shares of the company’s stock, valued at $5,446,890. The disclosure for this sale can be found here. Insiders sold 172,437 shares of company stock worth $7,242,432 in the last 90 days. 0.33% of the stock is owned by company insiders.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $43.33 on Monday. The firm has a market cap of $17.40 billion, a P/E ratio of 6.22, a PEG ratio of 1.00 and a beta of 1.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $46.72. The stock’s 50-day moving average is $43.04 and its two-hundred day moving average is $39.19.

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

Synchrony Financial declared that its board has authorized a stock repurchase program on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 5.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. Synchrony Financial’s payout ratio is presently 14.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. 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 research note on Thursday, April 25th. Barclays boosted their price target on Synchrony Financial from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. BMO Capital Markets lifted their price objective on shares of Synchrony Financial from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. Bank of America increased their target price on shares of Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, Morgan Stanley restated an “underweight” rating and issued a $30.00 price target on shares of Synchrony Financial in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Synchrony Financial currently has an average rating of “Hold” and a consensus price target of $43.74.

Get Our Latest Stock Analysis 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.

See Also

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

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