Brookstone Capital Management Acquires New Interest in Synchrony Financial (NYSE:SYF)
Brookstone Capital Management acquired a new position in shares of Synchrony Financial (NYSE:SYF – received rating) in the 1st quarter, HoldingsChannel reports. The fund acquired 6,516 shares of the financial services provider, valued at approximately $238,000.
Several other institutional investors have also increased or reduced their stakes in the company. CVA Family Office LLC acquired a new position in Synchrony Financial stock valued at $30,000 during the fourth quarter. Blue Bell Private Wealth Management LLC acquired a new position in Synchrony Financial valued at approximately $30,000 during the fourth quarter. Spire Wealth Management added 1,219.7% to its position in Synchrony Financial in the fourth quarter. Spire Wealth Management now owns 871 shares of the financial services firm, valued at $40,000, having purchased an additional 805 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Synchrony Financial by 115.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider, valued at $45,000, after purchasing an additional 517 shares during the period. Finally, during the fourth quarter, Andrew Hill Investment Advisors Inc. acquired a new interest in shares of Synchrony Financial worth approximately $46,000. 98.26% of the shares are owned by institutional investors.
Several equity analysts recently commented on the company. Stephens lowered its target price on Synchrony Financial to $47.00 from $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 19. Morgan Stanley downgraded shares of Synchrony Financial from an “overweight” rating to a “balance” rating and lowered the company’s price target to $40.00 from $56.00 in a research note on Monday, March 28. March. Wells Fargo & Company lowered its target price on shares of Synchrony Financial to $45.00 from $52.00 and rated the company in a report Wednesday, April 6. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report dated Monday, June 20. Finally, BMO Capital Markets increased its target price on Synchrony Financial to $52.00 from $49.00 and gave the company an outperform rating in a research note on Tuesday, April 19. One research analyst has rated the stock with a sell rating, five with a hold rating and thirteen with a buy rating. According to MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and an average price target of $51.00.
Synchrony Financial stocks opened at $29.45 on Tuesday. Synchrony Financial has a 1 year low of $27.40 and a 1 year high of $52.49. The company’s 50-day moving average is $34.61 and its 200-day moving average is $39.36. The company has a leverage ratio of 1.05, a quick ratio of 1.18 and a current ratio of 1.24. The company has a market cap of $14.77 billion, a P/E of 4.00, a PEG ratio of 0.23, and a beta of 1.43.
synchronization finances (NYSE:SYF – received rating) last announced its quarterly results on Monday, April 18. The financial services firm reported earnings per share of $1.73 for the quarter, beating analysts’ consensus estimate of $1.53 by $0.20. The company made $3.79 billion in revenue for the quarter, compared to analysts’ expectations of $2.66 billion. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. In the same period last year, the company reported earnings per share of $1.73. As a group, sell-side analysts are forecasting that Synchrony Financial will report year-to-date earnings per share of 5.63.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. A dividend of $0.22 per share was paid to shareholders of record on Monday, May 2nd. That equates to an annualized dividend of $0.88 and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday April 29th. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.94%.
Synchrony Financial announced that its board of directors initiated a stock repurchase plan on Monday, April 18, allowing the company to repurchase $2.80 billion of stock. This buyback authorization allows the financial services provider to buy back up to 13.6% of its shares through purchases on the open market. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Synchrony Financial company profile (received rating)
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It offers lending products such as credit cards, commercial lending products and consumer installment loans. The Company also offers private label credit cards, dual card, co-branded 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 for retail and commercial customers, and accepts deposits through third-party brokerage firms.
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