Synchrony Financial (SYF) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC raised its holdings in Synchrony Financial (NYSE:SYF) by 802.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,413 shares of the financial services provider’s stock after acquiring an additional 79,505 shares during the period. Verition Fund Management LLC’s holdings in Synchrony Financial were worth $2,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Bedel Financial Consulting Inc. bought a new stake in shares of Synchrony Financial in the first quarter valued at about $142,000. Financial Advocates Investment Management bought a new stake in shares of Synchrony Financial in the first quarter valued at about $212,000. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Synchrony Financial in the first quarter valued at about $215,000. MML Investors Services LLC bought a new stake in shares of Synchrony Financial in the fourth quarter valued at about $217,000. Finally, Wetherby Asset Management Inc. bought a new stake in shares of Synchrony Financial in the fourth quarter valued at about $227,000. 86.24% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the company. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a report on Sunday, April 22nd. Morgan Stanley dropped their target price on Synchrony Financial from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, April 30th. Citigroup initiated coverage on Synchrony Financial in a report on Thursday, April 5th. They set a “neutral” rating and a $37.00 target price on the stock. Zacks Investment Research lowered Synchrony Financial from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, BMO Capital Markets dropped their target price on Synchrony Financial from $55.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Synchrony Financial currently has a consensus rating of “Buy” and a consensus target price of $40.69.

In related news, insider David P. Melito sold 2,094 shares of the stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $35.60, for a total transaction of $74,546.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Neeraj Mehta sold 2,299 shares of the stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $32.69, for a total value of $75,154.31. Following the sale, the insider now directly owns 65,867 shares in the company, valued at approximately $2,153,192.23. The disclosure for this sale can be found here. Insiders sold 6,143 shares of company stock worth $207,923 in the last ninety days. 0.07% of the stock is owned by company insiders.

Synchrony Financial stock opened at $34.96 on Thursday. Synchrony Financial has a 12 month low of $28.33 and a 12 month high of $40.59. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $26.61 billion, a PE ratio of 13.37, a PEG ratio of 1.15 and a beta of 1.13.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, April 20th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Synchrony Financial had a return on equity of 15.60% and a net margin of 12.36%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. analysts anticipate that Synchrony Financial will post 3.39 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 17th. Stockholders of record on Monday, May 7th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, May 4th. Synchrony Financial’s payout ratio is 22.90%.

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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