Texas Permanent School Fund Decreases Position in Synchrony Financial (NYSE:SYF)

Texas Permanent School Fund cut its position in Synchrony Financial (NYSE:SYFGet Rating) by 2.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 66,239 shares of the financial services provider’s stock after selling 1,374 shares during the period. Texas Permanent School Fund’s holdings in Synchrony Financial were worth $1,830,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SYF. State of Michigan Retirement System raised its holdings in shares of Synchrony Financial by 2.8% during the second quarter. State of Michigan Retirement System now owns 135,240 shares of the financial services provider’s stock valued at $3,735,000 after purchasing an additional 3,700 shares during the last quarter. ING Groep NV raised its holdings in shares of Synchrony Financial by 14.1% during the second quarter. ING Groep NV now owns 94,369 shares of the financial services provider’s stock valued at $2,606,000 after purchasing an additional 11,666 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Synchrony Financial by 606.0% during the second quarter. Y Intercept Hong Kong Ltd now owns 117,055 shares of the financial services provider’s stock valued at $3,233,000 after purchasing an additional 100,476 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Synchrony Financial by 108.8% during the second quarter. Meeder Asset Management Inc. now owns 27,198 shares of the financial services provider’s stock valued at $751,000 after purchasing an additional 14,173 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Synchrony Financial by 7.8% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 219,165 shares of the financial services provider’s stock valued at $6,063,000 after purchasing an additional 15,951 shares during the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Carol Juel sold 31,303 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $40.00, for a total transaction of $1,252,120.00. Following the completion of the transaction, the insider now owns 55,929 shares in the company, valued at $2,237,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by company insiders.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $35.19 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a fifty day moving average price of $32.86 and a 200 day moving average price of $32.96. Synchrony Financial has a fifty-two week low of $27.22 and a fifty-two week high of $50.30. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 5.57, a P/E/G ratio of 0.97 and a beta of 1.61.

Synchrony Financial (NYSE:SYFGet Rating) last issued its earnings results on Tuesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Synchrony Financial had a net margin of 19.47% and a return on equity of 25.56%. The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.84 billion. As a group, sell-side analysts expect that Synchrony Financial will post 5.91 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Tuesday, November 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, October 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.61%. Synchrony Financial’s dividend payout ratio is 14.56%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Synchrony Financial from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, October 5th. Credit Suisse Group upped their target price on shares of Synchrony Financial from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, October 26th. BMO Capital Markets upped their target price on shares of Synchrony Financial from $42.00 to $52.00 in a report on Wednesday, October 26th. The Goldman Sachs Group upped their target price on shares of Synchrony Financial from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 26th. Finally, TheStreet raised shares of Synchrony Financial from a “c+” rating to a “b-” rating in a report on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.79.

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.

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

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