Synchrony Financial (SYF) Stake Lessened by Envestnet Asset Management Inc.
Envestnet Asset Management Inc. trimmed its holdings in Synchrony Financial (NYSE:SYF) by 62.2% in the first quarter, Holdings Channel reports. The institutional investor owned 87,401 shares of the financial services provider’s stock after selling 144,029 shares during the period. Envestnet Asset Management Inc.’s holdings in Synchrony Financial were worth $2,927,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alps Advisors Inc. acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $283,000. Deutsche Bank AG lifted its position in shares of Synchrony Financial by 32.7% in the fourth quarter. Deutsche Bank AG now owns 3,189,347 shares of the financial services provider’s stock valued at $123,136,000 after buying an additional 785,783 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of Synchrony Financial by 10.7% in the fourth quarter. Xact Kapitalforvaltning AB now owns 153,719 shares of the financial services provider’s stock valued at $5,935,000 after buying an additional 14,862 shares during the last quarter. First Republic Investment Management Inc. lifted its position in shares of Synchrony Financial by 372.7% in the fourth quarter. First Republic Investment Management Inc. now owns 173,375 shares of the financial services provider’s stock valued at $6,694,000 after buying an additional 136,701 shares during the last quarter. Finally, Haverford Financial Services Inc. lifted its position in shares of Synchrony Financial by 16.2% in the fourth quarter. Haverford Financial Services Inc. now owns 12,490 shares of the financial services provider’s stock valued at $484,000 after buying an additional 1,740 shares during the last quarter. 86.74% of the stock is owned by institutional investors.
In other Synchrony Financial news, insider Paul Whynott sold 1,750 shares of Synchrony Financial stock in a transaction on Monday, April 30th. The stock was sold at an average price of $33.27, for a total value of $58,222.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David P. Melito sold 2,094 shares of Synchrony Financial stock in a transaction on Monday, May 21st. The shares were sold at an average price of $35.60, for a total value of $74,546.40. The disclosure for this sale can be found here. Insiders sold a total of 6,143 shares of company stock valued at $207,923 over the last ninety days. Insiders own 0.07% of the company’s stock.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, April 20th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Synchrony Financial had a return on equity of 15.60% and a net margin of 12.36%. During the same period in the previous year, the firm earned $0.61 EPS. equities research analysts forecast that Synchrony Financial will post 3.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 17th. Shareholders of record on Monday, May 7th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 4th. This represents a $0.60 annualized dividend and a yield of 1.68%. Synchrony Financial’s dividend payout ratio is presently 22.90%.
A number of research firms have recently issued reports on SYF. Morgan Stanley cut their price objective on Synchrony Financial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, April 30th. ValuEngine cut Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, April 23rd. Zacks Investment Research raised Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Wednesday, January 31st. Citigroup assumed coverage on Synchrony Financial in a report on Thursday, April 5th. They set a “neutral” rating and a $37.00 price target for the company. Finally, Buckingham Research assumed coverage on Synchrony Financial in a report on Wednesday, March 14th. They set a “buy” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $40.69.
Synchrony Financial Company 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.
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