Lipe & Dalton Reduces Stake in Synchrony Financial (NYSE:SYF)

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.

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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.

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

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