Diversified Trust Co Lowers Holdings in Synchrony Financial (NYSE:SYF)

Diversified Trust Co lessened its stake in Synchrony Financial (NYSE:SYFGet Rating) by 10.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,693 shares of the financial services provider’s stock after selling 1,948 shares during the quarter. Diversified Trust Co’s holdings in Synchrony Financial were worth $461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of SYF. Quent Capital LLC raised its position in shares of Synchrony Financial by 50.1% in the 1st quarter. Quent Capital LLC now owns 1,003 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 335 shares during the last quarter. Column Capital Advisors LLC bought a new stake in Synchrony Financial in the 1st quarter worth about $37,000. Covestor Ltd increased its holdings in Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock worth $39,000 after buying an additional 644 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in Synchrony Financial by 230.5% in the 1st quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock worth $43,000 after buying an additional 855 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Synchrony Financial by 76.2% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,325 shares of the financial services provider’s stock worth $46,000 after buying an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

Synchrony Financial Trading Down 2.9 %

Shares of NYSE:SYF opened at $29.73 on Friday. The stock has a 50 day moving average of $33.20 and a 200 day moving average of $34.03. The company has a market cap of $14.32 billion, a PE ratio of 4.34, a price-to-earnings-growth ratio of 0.24 and a beta of 1.56. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.96. Synchrony Financial has a 12-month low of $27.22 and a 12-month high of $52.49.

Synchrony Financial (NYSE:SYFGet Rating) last posted its quarterly earnings results on Monday, July 18th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.17. Synchrony Financial had a return on equity of 27.06% and a net margin of 22.76%. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the firm earned $2.12 EPS. As a group, equities research analysts expect that Synchrony Financial will post 5.79 EPS for the current year.

Synchrony Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 1st were issued a $0.23 dividend. The ex-dividend date was Friday, July 29th. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 3.09%. Synchrony Financial’s payout ratio is currently 13.43%.

Wall Street Analyst Weigh In

Several research firms recently commented on SYF. Credit Suisse Group lifted their price objective on Synchrony Financial from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, July 19th. Barclays reduced their price objective on Synchrony Financial from $64.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, July 11th. JMP Securities cut their price target on Synchrony Financial from $50.00 to $40.00 and set a “market outperform” rating for the company in a research note on Friday, July 15th. Piper Sandler set a $41.00 price target on Synchrony Financial in a research note on Tuesday, July 19th. Finally, Keefe, Bruyette & Woods cut their price target on Synchrony Financial from $59.00 to $46.00 in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.00.

Synchrony Financial Company Profile

(Get Rating)

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-brand 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

Further Reading

Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYFGet Rating).

Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.