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Brookstone Capital Management Acquires New Stake in Synchrony Financial (NYSE:SYF)

By on June 28, 2022 0

Brookstone Capital Management has acquired a new equity position in Synchrony Financial (NYSE: SYFGet an assessment) in the 1st trimester, HoldingsChannel reports. The fund acquired 6,516 shares of the financial services provider, valued at around $238,000.

Several other institutional investors have also increased or reduced their stake in the company. CVA Family Office LLC acquired a new stock position in Synchrony Financial during Q4 worth $30,000. Blue Bell Private Wealth Management LLC bought a new position in Synchrony Financial in the fourth quarter worth about $30,000. Spire Wealth Management increased its position in Synchrony Financial by 1,219.7% in the fourth quarter. Spire Wealth Management now owns 871 shares of the financial services provider valued at $40,000 after purchasing an additional 805 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Synchrony Financial shares by 115.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider worth $45,000 after buying an additional 517 shares during the period. Finally, Andrew Hill Investment Advisors Inc. acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $46,000. 98.26% of the shares are held by institutional investors.

Several stock analysts have recently commented on the company. Stephens cut his price target on Synchrony Financial from $54.00 to $47.00 and set an “equal weight” rating on the stock in a Tuesday, April 19 research report. Morgan Stanley downgraded Synchrony Financial shares from an “overweight” to an “equally weighted” rating and lowered its target price for the company from $56.00 to $40.00 in a Monday 28 research note. march. Wells Fargo & Company lowered its price target on Synchrony Financial shares from $52.00 to $45.00 and set an “overweight” rating for the company in a Wednesday, April 6 report. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a Monday, June 20 report. Finally, BMO Capital Markets raised its price target on Synchrony Financial from $49.00 to $52.00 and gave the company an “outperform” rating in a Tuesday, April 19 research note. One research analyst rated the stock with a sell rating, five gave the company a hold rating and thirteen gave the company a buy rating. According to MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and an average price target of $51.00.

Synchrony Financial Action opened at $29.45 on Tuesday. Synchrony Financial has a 1 year minimum of $27.40 and a 1 year maximum of $52.49. The company’s 50-day moving average is $34.61 and its 200-day moving average is $39.36. The company has a debt ratio of 1.05, a quick ratio of 1.18 and a current ratio of 1.24. The company has a market capitalization of $14.77 billion, a P/E ratio of 4.00, a PEG ratio of 0.23 and a beta of 1.43.

Synchrony Financial (NYSE: SYFGet an assessment) last announced its quarterly results on Monday, April 18. The financial services provider reported earnings per share of $1.73 for the quarter, beating consensus analyst estimates of $1.53 by $0.20. The company posted revenue of $3.79 billion for the quarter, versus $2.66 billion expected by analysts. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. In the same period a year earlier, the company posted earnings per share of $1.73. As a group, sell-side analysts expect Synchrony Financial to post earnings per share of 5.63 for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 12. Shareholders of record on Monday, May 2 received a dividend of $0.22 per share. This represents an annualized dividend of $0.88 and a dividend yield of 2.99%. The ex-dividend date was Friday, April 29. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.94%.

Synchrony Financial said its board launched a stock buyback plan on Monday, April 18 that allows the company to repurchase $2.80 billion worth of stock. This repurchase authorization allows the financial services provider to repurchase up to 13.6% of its shares through purchases on the open market. Stock repurchase plans usually indicate that the company’s board of directors believe its stock is undervalued.

Synchrony Financial Company Profile (Get an assessment)

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products and consumer installment loans. The company also offers private label credit cards, dual cards, co-branded and general purpose credit cards, short and long term installment loans and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.

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Institutional ownership by quarter for Synchrony Financial (NYSE:SYF)



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