UBS Asset Management Americas Inc. decreased its stake in shares of Synchrony Financial (NYSE:SYF) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,322,516 shares of the financial services provider’s stock after selling 381,290 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Synchrony Financial were worth $115,325,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in SYF. DB Wealth Management Group LLC bought a new position in shares of Synchrony Financial during the fourth quarter valued at $31,000. Harvest Fund Management Co. Ltd purchased a new stake in Synchrony Financial during the 4th quarter valued at about $33,000. Penserra Capital Management LLC increased its stake in Synchrony Financial by 30.1% during the 4th quarter. Penserra Capital Management LLC now owns 1,194 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 276 shares in the last quarter. Avion Wealth purchased a new position in Synchrony Financial in the fourth quarter worth about $43,000. Finally, Cowa LLC bought a new position in shares of Synchrony Financial in the fourth quarter worth approximately $44,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.
In other Synchrony Financial news, insider David P. Melito sold 4,737 shares of the business’s stock in a transaction dated Thursday, January 28th. The shares were sold at an average price of $34.83, for a total value of $164,989.71. Following the completion of the sale, the insider now directly owns 26,812 shares of the company’s stock, valued at approximately $933,861.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David P. Melito sold 2,205 shares of the company’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $42.16, for a total transaction of $92,962.80. Following the completion of the transaction, the insider now owns 17,342 shares in the company, valued at $731,138.72. The disclosure for this sale can be found here. Insiders sold a total of 27,422 shares of company stock valued at $1,072,237 in the last 90 days. Company insiders own 0.45% of the company’s stock.
Shares of SYF opened at $42.49 on Thursday. The business has a 50-day simple moving average of $40.40 and a two-hundred day simple moving average of $33.95. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.39. Synchrony Financial has a 52 week low of $14.02 and a 52 week high of $43.61. The stock has a market cap of $24.81 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.92 and a beta of 1.79.
Synchrony Financial (NYSE:SYF) last released its earnings results on Thursday, January 28th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.33. Synchrony Financial had a net margin of 8.16% and a return on equity of 12.73%. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter last year, the business earned $1.10 EPS. On average, equities analysts anticipate that Synchrony Financial will post 2.47 earnings per share for the current fiscal year.
Synchrony Financial announced that its Board of Directors has initiated a share repurchase plan on Tuesday, January 26th that permits the company to repurchase $1.60 billion in shares. This repurchase authorization permits the financial services provider to buy up to 8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 16th. Shareholders of record on Friday, February 5th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, February 4th. This represents a $0.88 annualized dividend and a yield of 2.07%. Synchrony Financial’s payout ratio is currently 20.51%.
Synchrony Financial Profile
Synchrony Financial operates as a consumer financial services company in the United States. It provides a range of specialized financing programs and consumer banking products to digital, retail, home, auto, travel, health, and pet industries. The company also 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, dual cards, and installment loans.
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