Savant Capital LLC Sells 442 Shares of Synchrony Financial (NYSE:SYF)

Savant Capital LLC decreased its position in shares of Synchrony Financial (NYSE:SYF) by 6.6% in the 4th quarter, Holdings Channel reports. The fund owned 6,287 shares of the financial services provider’s stock after selling 442 shares during the quarter. Savant Capital LLC’s holdings in Synchrony Financial were worth $240,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners boosted its stake in Synchrony Financial by 158.9% in the 3rd quarter. Boston Partners now owns 3,095,762 shares of the financial services provider’s stock worth $94,609,000 after purchasing an additional 1,900,216 shares during the period. Invesco Ltd. boosted its stake in Synchrony Financial by 16.0% in the 3rd quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock worth $167,187,000 after purchasing an additional 755,856 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in Synchrony Financial by 33.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,907,126 shares of the financial services provider’s stock worth $88,871,000 after purchasing an additional 720,587 shares during the period. American Century Companies Inc. boosted its stake in Synchrony Financial by 99.7% in the 3rd quarter. American Century Companies Inc. now owns 958,641 shares of the financial services provider’s stock worth $29,306,000 after purchasing an additional 478,676 shares during the period. Finally, Qube Research & Technologies Ltd bought a new position in Synchrony Financial in the 3rd quarter worth about $11,732,000. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

NYSE:SYF opened at $46.24 on Tuesday. The business has a 50 day moving average of $42.27 and a 200 day moving average of $37.62. The company has a market capitalization of $18.57 billion, a price-to-earnings ratio of 6.63, a PEG ratio of 1.12 and a beta of 1.58. Synchrony Financial has a 1-year low of $26.67 and a 1-year high of $46.72. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the firm earned $1.35 EPS. On average, sell-side analysts predict that Synchrony Financial will post 5.62 earnings per share for the current fiscal year.

Synchrony Financial declared that its board has initiated a stock buyback plan on Wednesday, April 24th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 2.16%. Synchrony Financial’s payout ratio is currently 14.35%.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the sale, the insider now owns 152,604 shares in the company, valued at $6,534,503.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Brian D. Doubles sold 134,696 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now directly owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares in the company, valued at $6,534,503.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,437 shares of company stock worth $7,242,432. 0.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SYF has been the subject of several analyst reports. Piper Sandler raised their target price on Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Evercore ISI raised their target price on Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Synchrony Financial in a research note on Wednesday, January 10th. They issued a “buy” rating and a $56.00 target price for the company. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their price target on Synchrony Financial from $42.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.74.

Synchrony Financial Company Profile

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 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.