Synchrony Financial (NYSE:SYF) Position Lessened by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its position in Synchrony Financial (NYSE:SYFFree Report) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,656 shares of the financial services provider’s stock after selling 7,454 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Synchrony Financial worth $8,885,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in Synchrony Financial in the fourth quarter worth approximately $182,739,000. Invesco Ltd. increased its stake in shares of Synchrony Financial by 16.0% during 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 last quarter. Boston Partners lifted its stake in shares of Synchrony Financial by 23.6% in the 4th quarter. Boston Partners now owns 3,826,080 shares of the financial services provider’s stock valued at $146,112,000 after purchasing an additional 730,318 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Synchrony Financial by 33.0% in the third 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 in the last quarter. Finally, American Century Companies Inc. increased its position in Synchrony Financial by 99.7% during the third quarter. American Century Companies Inc. now owns 958,641 shares of the financial services provider’s stock worth $29,306,000 after buying an additional 478,676 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total value of $1,420,290.00. Following the transaction, the insider now directly owns 121,042 shares in the company, valued at approximately $5,446,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SYF has been the subject of several recent analyst reports. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company boosted their price objective on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Evercore ISI lifted their target price on shares of Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. upped their price target on shares of Synchrony Financial from $42.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Bank of America lifted their price objective on Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a research note 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 issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $43.74.

Get Our Latest Research Report on SYF

Synchrony Financial Stock Down 2.4 %

Shares of NYSE SYF opened at $42.52 on Wednesday. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $46.72. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.24. The business has a fifty day moving average of $43.19 and a two-hundred day moving average of $39.86. The stock has a market cap of $17.07 billion, a PE ratio of 6.10, a PEG ratio of 1.01 and a beta of 1.60.

Synchrony Financial (NYSE:SYFGet Free Report) last issued 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). Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. The business 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 posted $1.35 EPS. As a group, equities research analysts expect that Synchrony Financial will post 5.75 earnings per share for the current fiscal year.

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

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.35%. Synchrony Financial’s dividend payout ratio (DPR) is currently 14.35%.

Synchrony Financial Profile

(Free Report)

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.

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

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