Daiwa Securities Group Inc. held its position in shares of Synchrony Financial (NYSE:SYF) during the second quarter, Holdings Channel reports. The fund owned 23,000 shares of the financial services provider’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Synchrony Financial were worth $686,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SYF. Wells Fargo & Company MN raised its position in shares of Synchrony Financial by 6.2% in the first quarter. Wells Fargo & Company MN now owns 6,245,162 shares of the financial services provider’s stock worth $214,209,000 after buying an additional 363,874 shares in the last quarter. Creative Planning raised its position in shares of Synchrony Financial by 4.3% in the first quarter. Creative Planning now owns 5,863 shares of the financial services provider’s stock worth $201,000 after buying an additional 240 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Synchrony Financial by 28.8% in the first quarter. Global X Management Co. LLC now owns 6,226 shares of the financial services provider’s stock worth $214,000 after buying an additional 1,394 shares in the last quarter. AT Bancorp raised its position in shares of Synchrony Financial by 9.8% in the first quarter. AT Bancorp now owns 142,538 shares of the financial services provider’s stock worth $4,889,000 after buying an additional 12,726 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Synchrony Financial by 14.5% in the first quarter. Victory Capital Management Inc. now owns 46,379 shares of the financial services provider’s stock worth $1,591,000 after buying an additional 5,864 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 29.20 on Friday. The company has a market capitalization of $23.22 billion, a price-to-earnings ratio of 10.97 and a beta of 1.01. The firm’s 50-day moving average is $29.83 and its 200 day moving average is $31.77. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the company posted $0.58 EPS. Equities analysts expect that Synchrony Financial will post $2.60 EPS for the current year.

Synchrony Financial declared that its board has authorized a stock buyback program on Thursday, May 18th that allows the company to repurchase $1.64 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.05%. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, August 3rd. Synchrony Financial’s dividend payout ratio is presently 22.64%.

TRADEMARK VIOLATION WARNING: “Synchrony Financial (NYSE:SYF) Stake Held by Daiwa Securities Group Inc.” was reported by Daily Political and is owned by of Daily Political. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://www.dailypolitical.com/2017/08/13/synchrony-financial-nysesyf-stake-held-by-daiwa-securities-group-inc.html.

A number of equities analysts have weighed in on SYF shares. Goldman Sachs Group, Inc. (The) lowered shares of Synchrony Financial from a “conviction-buy” rating to a “neutral” rating and cut their target price for the stock from $44.00 to $33.00 in a research report on Friday, April 28th. Guggenheim lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $38.00 to $32.00 in a research report on Wednesday, May 3rd. Barclays PLC increased their target price on shares of Synchrony Financial from $36.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, May 1st. Stephens lowered shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $44.00 to $29.00 in a research report on Monday, May 1st. Finally, JMP Securities reiterated an “outperform” rating and set a $35.00 target price (down previously from $41.00) on shares of Synchrony Financial in a research report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $37.46.

In other Synchrony Financial news, Director Paget Leonard Alves purchased 2,000 shares of the company’s stock in a transaction on Monday, July 24th. The stock was acquired at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the purchase, the director now directly owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.03% of the company’s stock.

Synchrony Financial Company Profile

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.

Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF).

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

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.