Public Employees Retirement Association of Colorado Sells 1,121,094 Shares of Synchrony Financial (NYSE:SYF)

Public Employees Retirement Association of Colorado trimmed its position in shares of Synchrony Financial (NYSE:SYFFree Report) by 96.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,937 shares of the financial services provider’s stock after selling 1,121,094 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Synchrony Financial were worth $1,793,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. raised its holdings in Synchrony Financial by 16.0% during the third quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock valued at $167,187,000 after acquiring an additional 755,856 shares during the period. Northern Trust Corp lifted its holdings in Synchrony Financial by 3.7% in the 3rd quarter. Northern Trust Corp now owns 4,973,509 shares of the financial services provider’s stock worth $152,040,000 after purchasing an additional 178,344 shares in the last quarter. Norges Bank bought a new position in Synchrony Financial in the 4th quarter worth approximately $182,739,000. Boston Partners grew its holdings in Synchrony Financial by 23.6% during the 4th quarter. Boston Partners now owns 3,826,080 shares of the financial services provider’s stock valued at $146,112,000 after buying an additional 730,318 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Synchrony Financial by 4.1% during the third quarter. Ameriprise Financial Inc. now owns 3,707,427 shares of the financial services provider’s stock valued at $113,336,000 after buying an additional 145,466 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on SYF shares. Bank of America lifted their price target on shares of Synchrony Financial from $43.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Wells Fargo & Company boosted their target price on Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. 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. BTIG Research initiated coverage on Synchrony Financial in a report on Friday. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Wolfe Research raised shares of Synchrony Financial from an “underperform” rating to an “outperform” rating and raised their target price for the company from $36.00 to $50.00 in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $44.55.

Check Out Our Latest Analysis on Synchrony Financial

Synchrony Financial Price Performance

SYF opened at $43.70 on Monday. The business has a fifty day moving average of $43.21 and a 200 day moving average of $40.14. The stock has a market cap of $17.55 billion, a P/E ratio of 6.27, a PEG ratio of 1.01 and a beta of 1.60. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $46.72.

Synchrony Financial (NYSE:SYFGet Free Report) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same period in the prior year, the firm posted $1.35 earnings per share. As a group, sell-side analysts anticipate that Synchrony Financial will post 5.75 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.29%. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Synchrony Financial declared that its board has initiated a share repurchase program on Wednesday, April 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 5.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Synchrony Financial

In related 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

About Synchrony Financial

(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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