Retirement Systems of Alabama Lowers Holdings in Synchrony Financial (NYSE:SYF)

Retirement Systems of Alabama trimmed its holdings in Synchrony Financial (NYSE:SYF) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 91,199 shares of the financial services provider’s stock after selling 3,357 shares during the quarter. Retirement Systems of Alabama’s holdings in Synchrony Financial were worth $3,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV boosted its position in shares of Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Synchrony Financial during the 4th quarter valued at about $55,000. Systematic Alpha Investments LLC bought a new position in shares of Synchrony Financial during the 3rd quarter valued at about $100,000. Private Trust Co. NA grew its position in shares of Synchrony Financial by 13.4% during the fourth quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 320 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Synchrony Financial by 87.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 4,161 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 1,940 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

Shares of SYF stock opened at $45.27 on Wednesday. The company has a market capitalization of $18.18 billion, a P/E ratio of 6.49, a P/E/G ratio of 1.12 and a beta of 1.58. The company’s 50-day simple moving average is $42.36 and its two-hundred day simple moving average is $37.74. Synchrony Financial has a one year low of $26.67 and a one 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 announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same period last year, the company earned $1.35 EPS. As a group, equities analysts anticipate that Synchrony Financial will post 5.62 EPS for the current year.

Synchrony Financial announced that its board has authorized a share repurchase plan on Wednesday, April 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be issued a $0.25 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. Synchrony Financial’s payout ratio is currently 14.35%.

Insider Buying and Selling

In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the completion of the sale, the insider now owns 121,042 shares in the company, valued at $5,446,890. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The disclosure for this sale can be found here. Insiders sold a total of 172,437 shares of company stock valued at $7,242,432 over the last three months. 0.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. TD Cowen raised their price target on Synchrony Financial from $49.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, April 25th. JMP Securities upped their price target on shares of Synchrony Financial from $35.00 to $42.00 and gave the company a “market outperform” rating in a research note on Friday, January 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Synchrony Financial in a research note on Wednesday, January 10th. They issued a “buy” rating and a $56.00 price objective for the company. Bank of America upped their target price on shares of Synchrony Financial from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lifted their price target on Synchrony Financial from $42.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.74.

Synchrony Financial 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.