Synchrony Financial (SYF) Shares Bought by Mondrian Investment Partners LTD
Mondrian Investment Partners LTD increased its stake in shares of Synchrony Financial (NYSE:SYF) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,892,799 shares of the financial services provider’s stock after buying an additional 186,211 shares during the period. Synchrony Financial comprises 1.6% of Mondrian Investment Partners LTD’s portfolio, making the stock its 20th largest position. Mondrian Investment Partners LTD’s holdings in Synchrony Financial were worth $56,443,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. First Quadrant L P CA increased its position in Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after buying an additional 1,328 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Synchrony Financial by 41.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,280 shares of the financial services provider’s stock valued at $113,000 after buying an additional 965 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Synchrony Financial during the first quarter valued at $152,000. Coconut Grove Bank increased its position in Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock valued at $154,000 after buying an additional 2,170 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Synchrony Financial by 28.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,901 shares of the financial services provider’s stock valued at $168,000 after buying an additional 1,077 shares in the last quarter. Hedge funds and other institutional investors own 89.61% of the company’s stock.
Shares of Synchrony Financial (NYSE:SYF) opened at 29.32 on Friday. Synchrony Financial has a 52 week low of $26.01 and a 52 week high of $38.06. The firm has a 50-day moving average price of $29.83 and a 200-day moving average price of $31.82. The stock has a market cap of $23.32 billion, a PE ratio of 11.01 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the firm earned $0.58 EPS. On average, analysts forecast that Synchrony Financial will post $2.60 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 7th will be given a $0.15 dividend. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, August 3rd. This represents a $0.60 annualized dividend and a dividend yield of 2.05%. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.64%.
Synchrony Financial declared that its Board of Directors has approved a stock repurchase program on Thursday, May 18th that permits the company to repurchase $1.64 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
SYF has been the subject of several research reports. Barclays PLC lifted their target price on Synchrony Financial from $36.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, May 1st. BTIG Research dropped their target price on Synchrony Financial from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, May 1st. Goldman Sachs Group, Inc. (The) downgraded Synchrony Financial from a “conviction-buy” rating to a “neutral” rating and dropped their target price for the company from $44.00 to $33.00 in a research report on Friday, April 28th. Stephens downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $44.00 to $29.00 in a research report on Monday, May 1st. Finally, Deutsche Bank AG dropped their target price on Synchrony Financial from $47.00 to $35.00 and set a “hold” rating for the company in a research report on Monday, May 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $37.46.
In other news, Director Paget Leonard Alves bought 2,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was bought at an average price of $30.85 per share, for a total transaction of $61,700.00. Following the transaction, the director now owns 8,521 shares in the company, valued at $262,872.85. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.03% of the stock is currently owned by company insiders.
About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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