Amica Mutual Insurance Co. Continues to Hold Position in Synchrony Financial (SYF)
Amica Mutual Insurance Co. continued to hold its stake in Synchrony Financial (NYSE:SYF) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,492 shares of the company’s stock at the end of the third quarter. Amica Mutual Insurance Co.’s holdings in Synchrony Financial were worth $1,722,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the stock. NEXT Financial Group Inc increased its stake in Synchrony Financial by 2.6% in the third quarter. NEXT Financial Group Inc now owns 4,019 shares of the company’s stock worth $113,000 after buying an additional 103 shares during the last quarter. D Orazio & Associates Inc. increased its stake in Synchrony Financial by 75.0% in the second quarter. D Orazio & Associates Inc. now owns 4,200 shares of the company’s stock worth $106,000 after buying an additional 1,800 shares during the last quarter. Societe Generale bought a new stake in Synchrony Financial during the second quarter worth about $118,000. Daiwa SB Investments Ltd. increased its stake in Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock worth $130,000 after buying an additional 410 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Synchrony Financial by 4.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 5,350 shares of the company’s stock worth $150,000 after buying an additional 225 shares during the last quarter. Institutional investors own 85.94% of the company’s stock.
Shares of Synchrony Financial (NYSE:SYF) traded up 2.25% during mid-day trading on Wednesday, reaching $34.56. 8,560,737 shares of the company were exchanged. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $35.02. The firm’s 50-day moving average is $30.04 and its 200-day moving average is $28.37. The company has a market capitalization of $28.53 billion, a price-to-earnings ratio of 12.99 and a beta of 0.89.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, October 21st. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.04. Synchrony Financial had a net margin of 15.40% and a return on equity of 16.61%. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, equities analysts forecast that Synchrony Financial will post $2.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Monday, November 7th were given a $0.13 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.50%. Synchrony Financial’s dividend payout ratio (DPR) is presently 19.55%.
Several research analysts recently issued reports on SYF shares. Zacks Investment Research downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Credit Suisse Group AG set a $37.00 price objective on Synchrony Financial and gave the stock a “buy” rating in a research report on Thursday, September 22nd. Barclays PLC set a $41.00 price objective on Synchrony Financial and gave the stock a “buy” rating in a research report on Monday, November 21st. Stephens started coverage on Synchrony Financial in a research report on Friday, November 18th. They set an “overweight” rating and a $40.00 price objective for the company. Finally, Vetr downgraded Synchrony Financial from a “strong-buy” rating to a “buy” rating and set a $35.70 price objective for the company. in a research report on Monday, November 14th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $39.83.
In related news, insider David P. Melito sold 2,159 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $33.54, for a total value of $72,412.86. Following the completion of the sale, the insider now owns 40,863 shares in the company, valued at approximately $1,370,545.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Margaret M. Keane sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the sale, the insider now owns 361,206 shares of the company’s stock, valued at approximately $10,836,180. The disclosure for this sale can be found here. 0.02% of the stock is currently owned by corporate 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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