Hartford Investment Management Co. Takes $2.21 Million Stake in Synchrony Financial (NYSE:SYF)
Hartford Investment Management Co. increased its position in shares of Synchrony Financial (NYSE:SYF – received rating) up 14.0% in Q1, HoldingsChannel reports. The fund owned 63,577 shares of the financial services provider, after purchasing a further 7,807 shares during the period. Hartford Investment Management Co.’s holdings in Synchrony Financial were worth $2,213,000 at the end of the last reporting period.
Several other hedge funds and other institutional investors have recently added to or reduced their holdings in SYF. Baird Financial Group Inc. increased its stake in Synchrony Financial by 0.9% in the fourth quarter. Baird Financial Group Inc. now owns 25,965 shares of the financial services provider valued at $1,205,000 after purchasing an additional 235 shares during the period. Geneos Wealth Management Inc. increased its stake in Synchrony Financial by 17.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,588 shares of the financial services provider, valued at $73,000, after purchasing an additional 240 shares during the period. Venture Visionary Partners LLC increased its stake in Synchrony Financial by 2.1% during the fourth quarter. Venture Visionary Partners LLC now owns 12,615 shares of the financial services firm valued at $585,000 after purchasing an additional 255 shares during the period. Camden Capital LLC increased its stake in Synchrony Financial by 4.7% in the fourth quarter. Camden Capital LLC now owns 6,108 shares of the financial services firm, valued at $283,000, after purchasing an additional 274 shares during the period. Finally, Maverick Capital Ltd. increased its stake in Synchrony Financial by 11.6% in the fourth quarter. Maverick Capital Ltd. now owns 2,820 shares of the financial services firm, valued at $131,000, after purchasing an additional 294 shares during the period. 98.26% of the shares are currently owned by institutional investors.
shares of NYSE SYF opened at $28.59 on Monday. Synchrony Financial has a 12-month low of $27.22 and a 12-month high of $52.49. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt to equity ratio of 1.05. The company has a market cap of $14.34 billion, a price-to-earnings ratio of 3.88, a PEG ratio of 0.22 and a beta of 1.52. The company has a 50-day moving average of $33.71 and a 200-day moving average of $38.84.
synchronization finances (NYSE:SYF – received rating) last released its quarterly earnings data on Monday, April 18th. The financial services firm reported $1.73 EPS for the quarter, beating 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 company had revenue of $3.79 billion in the quarter, compared to analyst estimates of $2.66 billion. In the same quarter last year, the company generated earnings per share of $1.73. On average, analysts are forecasting that Synchrony Financial will report earnings per share of 5.63 for the current year.
Synchrony Financial announced that its board of directors approved a share repurchase plan on Monday, April 18, allowing the company to repurchase $2.80 billion of outstanding shares. 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 often an indication that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record were paid a dividend of $0.22 on Monday, May 2nd. The ex-dividend date of this dividend was Friday April 29th. That equates to a dividend of $0.88 on an annualized basis and a dividend yield of 3.08%. Synchrony Financial’s RTP is 11.94%.
A number of 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 note on Tuesday, April 19. BMO Capital Markets raised its target price on Synchrony Financial to $52.00 from $49.00 and gave the stock a “Outperform” rating in a report on Tuesday, April. Goldman Sachs Group raised its target price on Synchrony Financial to $45.00 from $40.00 and gave the stock a “buy” rating in a report on Tuesday, April 19. Piper Sandler lowered his target price on Synchrony Financial to $42.00 from $49.00 and gave the company an overweight rating in a report Wednesday, June 29. Finally, Wells Fargo & Company lowered its target price on Synchrony Financial to $45.00 from $52.00 and gave the company a rating in a report on Wednesday, March 6th. One research analyst rated the stock with a sell rating and six with a hold rating rating and twelve with a buy rating on the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.61.
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 both retail and commercial customers, and accepts deposits through third-party securities brokerage firms.
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