Lipe & Dalton lessened its holdings in shares of Synchrony Financial (NYSE:SYF) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,882 shares of the financial services provider’s stock after selling 4,050 shares during the quarter. Synchrony Financial makes up about 1.9% of Lipe & Dalton’s portfolio, making the stock its 23rd biggest holding. Lipe & Dalton’s holdings in Synchrony Financial were worth $2,548,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Enlightenment Research LLC purchased a new stake in Synchrony Financial in the 4th quarter valued at about $28,000. JOYN Advisors Inc. increased its stake in Synchrony Financial by 33.7% during the fourth quarter. JOYN Advisors Inc. now owns 1,349 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 340 shares during the period. Taylor Hoffman Wealth Management purchased a new stake in Synchrony Financial during the fourth quarter worth about $39,000. Dubuque Bank & Trust Co. purchased a new stake in Synchrony Financial during the fourth quarter worth about $43,000. Finally, Huntington National Bank increased its stake in Synchrony Financial by 47.6% during the fourth quarter. Huntington National Bank now owns 1,908 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 615 shares during the period. 86.71% of the stock is currently owned by institutional investors.
NYSE:SYF traded up $0.06 during trading hours on Friday, hitting $34.81. The company’s stock had a trading volume of 3,004,900 shares, compared to its average volume of 6,427,680. The stock has a market capitalization of $24.23 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.07 and a beta of 1.30. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.27 and a current ratio of 1.39. Synchrony Financial has a 52-week low of $21.77 and a 52-week high of $36.08.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.12. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Synchrony Financial had a return on equity of 19.79% and a net margin of 17.52%. During the same quarter in the prior year, the business posted $0.83 earnings per share. On average, analysts predict that Synchrony Financial will post 4.28 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Friday, May 3rd. Synchrony Financial’s dividend payout ratio is currently 22.46%.
A number of analysts have issued reports on the stock. Nomura boosted their price target on shares of Synchrony Financial from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Royal Bank of Canada restated an “outperform” rating and set a $39.00 target price on shares of Synchrony Financial in a research note on Friday, May 3rd. ValuEngine upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Morgan Stanley upped their target price on shares of Synchrony Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $37.47.
In other news, insider Henry F. Greig sold 50,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $33.00, for a total value of $1,650,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David P. Melito sold 6,014 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $34.25, for a total value of $205,979.50. Following the completion of the transaction, the insider now owns 29,476 shares of the company’s stock, valued at approximately $1,009,553. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,218 shares of company stock valued at $1,964,916. Company insiders own 0.32% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Lipe & Dalton Reduces Stake in Synchrony Financial (NYSE:SYF)” was first published by Sundance Herald and is owned by of Sundance Herald. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://sundanceherald.com/2019/05/24/lipe-dalton-has-2-55-million-holdings-in-synchrony-financial-syf.html.
Synchrony Financial Profile
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
Featured Article: Call Option
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.