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Synchrony Financial Hikes Dividend, Announces $1.64 Billion Share Buyback Program
20 May 2017, 08:01 | Jan Cross
More notable recent Synchrony Financial (NYSE:SYF) news were published by: Thestreet.com which released: "Synchrony Financial Hikes Dividend, Announces $1.64 Billion Share Buyback Program" on May 19, 2017, also Seekingalpha.com with their article: "Synchrony Financial, Buy The Dip?" published on April 28, 2017, Nasdaq.com published: "Ex-Dividend Reminder: Alexander's, Synchrony Financial and HCP" on May 02, 2017. Meyer Handelman Co.'s holdings in Synchrony Financial were worth $1,739,000 at the end of the most recent reporting period. Osborne Partners Capital Management LLC boosted its position in Synchrony Financial by 8.5% in the third quarter. Following the completion of the transaction, the insider now directly owns 169,962 shares of the company's stock, valued at approximately $6,140,727.06. Russell Investments Group Ltd. now owns 3,273,152 shares of the financial services provider's stock valued at $112,283,000 after buying an additional 579,393 shares in the last quarter. The Allstate Corp holds 60,955 shares with $6.29 million value, down from 74,551 last quarter. WFG Advisors LP now owns 12,458 shares of the financial services provider's stock worth $117,000 after buying an additional 12,451 shares in the last quarter. Finally, Bluestein R H & Co. bought a new position in Synchrony Financial during the fourth quarter worth about $210,000. Coconut Grove Bank now owns 4,480 shares of the financial services provider's stock worth $154,000 after buying an additional 2,170 shares in the last quarter. Several hedge funds and other institutional investors have recently bought and sold shares of the stock. (NYSE:MO) stock went gone down with a prior 52-week high of $76.38.During the session shares traded on below-average volume. The company had a trading volume of 1,045,641 shares.
While there are a number of profitability ratios that measure a company's ability to generate profit from the sales or services it provides, one of the most important is the net profit margin. In this case, shares are down -29.79% from $38.06, the 52-week high touched on January 04, 2017, but are collecting gains at -7.87% for the past 12 months.
Over the last 5 years, Synchrony Financial has averaged a 3.50% YoY EPS growth rate and a 10.10% revenue growth rate. The financial services provider reported $0.61 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.74 by $0.13. The Return on Equity (ROE) value stands at 15.4%. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. Analysts expect that Synchrony Financial will post $2.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 18th. Stockholders of record on Monday, May 8th will be issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, May 4th. The stock rose 1.96% or $0.52 reaching $27.02. Synchrony Financial's payout ratio is now 19.19%.
TRADEMARK VIOLATION WARNING: "Meyer Handelman Co". The Gross Margin Score of Synchrony Financial (NYSE:SYF) is 50.00000. If you are reading this report on another site, it was stolen and republished in violation of global trademark and copyright legislation. Hosking Partners LLP boosted its position in Synchrony Financial by 13.7% in the third quarter.
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A number of brokerages recently weighed in on SYF. JMP Securities boosted their target price on shares of Synchrony Financial from $37.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, January 23rd. Synchrony Financial (NYSE:SYF) distance from 50-day simple moving average (SMA50) is -17.36%. Wells Fargo & Co started coverage on shares of Synchrony Financial in a research report on Wednesday, March 29th. Finally, Citigroup Inc lowered their price target on Synchrony Financial from $43.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, May 1st. Analysts have a mean recommendation of 1.90 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The stock was sold at an average price of $36.13, for a total transaction of $292,978.17.
In related news, insider David P. Melito sold 748 shares of the firm's stock in a transaction that occurred on Wednesday, April 5th. The stock was purchased at an average cost of $27.80 per share, with a total value of $500,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
In other Synchrony Financial news, Director Will W. Graylin acquired 18,000 shares of the company's stock in a transaction that occurred on Monday, May 1st. The disclosure for this purchase can be found here. Insiders sold 9,457 shares of company stock worth $339,056 in the last 90 days.
The company has been one of the biggest innovators in "Credit Services" employing approximately 15000 full time employees.
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