Chartwell Investment Partners LLC Decreases Holdings in Synchrony Financial (NYSE:SYF)

Share on StockTwits

Chartwell Investment Partners LLC lowered its stake in Synchrony Financial (NYSE:SYF) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,259 shares of the financial services provider’s stock after selling 2,115 shares during the period. Chartwell Investment Partners LLC’s holdings in Synchrony Financial were worth $3,618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYF. Capital World Investors bought a new stake in shares of Synchrony Financial in the 1st quarter valued at approximately $424,440,000. Altshuler Shaham Ltd lifted its position in Synchrony Financial by 3,478,129.7% in the first quarter. Altshuler Shaham Ltd now owns 3,860,835 shares of the financial services provider’s stock worth $62,120,000 after buying an additional 3,860,724 shares during the last quarter. Ruffer LLP boosted its stake in Synchrony Financial by 172.9% during the first quarter. Ruffer LLP now owns 3,708,452 shares of the financial services provider’s stock worth $59,687,000 after buying an additional 2,349,717 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in Synchrony Financial by 37.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,157,035 shares of the financial services provider’s stock valued at $131,247,000 after acquiring an additional 2,228,721 shares during the last quarter. Finally, Par Capital Management Inc. lifted its holdings in shares of Synchrony Financial by 78.9% in the 1st quarter. Par Capital Management Inc. now owns 5,000,000 shares of the financial services provider’s stock worth $80,450,000 after acquiring an additional 2,205,000 shares during the last quarter. 87.85% of the stock is currently owned by institutional investors.

In other Synchrony Financial news, Director P.W. Parker bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average cost of $23.32 per share, for a total transaction of $233,200.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $233,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Will W. Graylin sold 7,500 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $21.77, for a total value of $163,275.00. Following the transaction, the director now directly owns 58,942 shares in the company, valued at $1,283,167.34. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

Several analysts have issued reports on the stock. Barclays decreased their price objective on shares of Synchrony Financial from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. BMO Capital Markets decreased their price target on Synchrony Financial from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Zacks Investment Research raised Synchrony Financial from a “sell” rating to a “hold” rating and set a $24.00 price objective on the stock in a research report on Thursday, July 23rd. JMP Securities lifted their target price on Synchrony Financial from $21.00 to $27.50 and gave the stock a “market outperform” rating in a research report on Wednesday, June 17th. Finally, Wells Fargo & Co cut their price target on shares of Synchrony Financial from $40.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Synchrony Financial has an average rating of “Hold” and an average target price of $24.59.

NYSE SYF opened at $22.13 on Friday. The company has a market cap of $12.92 billion, a PE ratio of 7.48, a P/E/G ratio of 2.66 and a beta of 1.67. The firm’s 50 day moving average price is $22.92 and its 200-day moving average price is $23.66. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 52-week low of $12.15 and a 52-week high of $38.18.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $950.00 million during the quarter, compared to analyst estimates of $2.90 billion. Synchrony Financial had a return on equity of 14.73% and a net margin of 11.79%. Synchrony Financial’s revenue was down 54.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, analysts forecast that Synchrony Financial will post 1.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.88 dividend on an annualized basis and a yield of 3.98%. Synchrony Financial’s dividend payout ratio is presently 20.51%.

Synchrony Financial Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

Featured Story: How are institutional investors different from individual investors?

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).

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

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.

 

Latest News

Different Types of Research Papers
Different Types of Research Papers
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing


 
© 2006-2020 BBNS.