Dynamic Advisor Solutions LLC Decreases Stock Holdings in Synchrony Financial (NYSE:SYF)



Dynamic Advisor Solutions LLC reduced its position in shares of Synchrony Financial (NYSE:SYF – Get Rating) by 19.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,734 shares of the financial services provider’s stock after selling 1,910 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Synchrony Financial were worth $269,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in Synchrony Financial in the fourth quarter worth about $243,432,000. Marshall Wace LLP increased its position in shares of Synchrony Financial by 8,460.7% during the 4th quarter. Marshall Wace LLP now owns 3,147,770 shares of the financial services provider’s stock valued at $146,028,000 after purchasing an additional 3,111,000 shares during the last quarter. Ceredex Value Advisors LLC raised its holdings in Synchrony Financial by 189.0% during the 4th quarter. Ceredex Value Advisors LLC now owns 4,487,006 shares of the financial services provider’s stock valued at $208,152,000 after buying an additional 2,934,606 shares during the period. BlackRock Inc. lifted its position in Synchrony Financial by 4.3% in the fourth quarter. BlackRock Inc. Now owns 46,743,789 shares of the financial services provider’s stock worth $2,168,444,000 after buying an additional 1,945,620 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Synchrony Financial by 58.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 3,674,380 shares of the financial services provider’s stock worth $170,454,000 after buying an additional 1,349,252 shares during the period. 98.26% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:SYF opened at $29.54 on Monday. The firm has a 50 day moving average of $34.83 and a 200 day moving average of $39.49. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $14.81 billion, a price-to-earnings ratio of 4.01, a price-to-earnings-growth ratio of 0.23 and a beta of 1.43. Synchrony Financial has a 52 week low of $27.40 and a 52 week high of $52.49.

Synchrony Financial (NYSE:SYF – Get Rating) last released its quarterly earnings results on Monday, April 18th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.53 by $0.20. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company posted $1.73 EPS. On average, sell-side analysts expect that Synchrony Financial will post 5.63 EPS for the current year.

Synchrony Financial announced that its Board of Directors has authorized a stock buyback plan on Monday, April 18th that permits the company to repurchase $2.80 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 2nd were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Friday, April 29th. Synchrony Financial’s payout ratio is currently 11.94%.

Several equities research analysts have recently issued reports on SYF shares. BMO Capital Markets raised their target price on shares of Synchrony Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, April 19th. Stephens decreased their price objective on shares of Synchrony Financial from $54.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 19th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Piper Sandler raised Synchrony Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $48.00 to $49.00 in a research note on Wednesday, April 6th. Finally, Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and cut their objective price for the company from $56.00 to $40.00 in a research report on Monday, March 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.00.

About Synchrony Financial (Get Rating)

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.

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



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