Allspring Global Investments Holdings LLC Lowers Holdings in Synchrony Financial (NYSE:SYF)

Allspring Global Investments Holdings LLC reduced its position in shares of Synchrony Financial (NYSE:SYFFree Report) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,872 shares of the financial services provider’s stock after selling 1,321 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Synchrony Financial were worth $3,036,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SYF. Dimensional Fund Advisors LP grew its position in Synchrony Financial by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 6,686,486 shares of the financial services provider’s stock worth $315,381,000 after buying an additional 313,128 shares in the last quarter. Boston Partners grew its holdings in shares of Synchrony Financial by 66.6% during the first quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after purchasing an additional 2,548,180 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Synchrony Financial by 14.6% in the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock worth $264,917,000 after purchasing an additional 727,649 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Synchrony Financial by 2.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,496,009 shares of the financial services provider’s stock valued at $150,748,000 after purchasing an additional 97,235 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Synchrony Financial by 18.7% during the second quarter. Hsbc Holdings PLC now owns 3,131,599 shares of the financial services provider’s stock valued at $147,599,000 after purchasing an additional 492,312 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Insiders Place Their Bets

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SYF. The Goldman Sachs Group increased their price target on shares of Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price objective on shares of Synchrony Financial in a report on Monday, October 14th. Evercore ISI decreased their price objective on Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, BTIG Research cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.25.

Check Out Our Latest Stock Analysis on SYF

Synchrony Financial Price Performance

SYF opened at $55.75 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $22.39 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 1.19 and a beta of 1.61. The stock’s 50 day moving average price is $50.72 and its 200-day moving average price is $47.37. Synchrony Financial has a 52-week low of $27.68 and a 52-week high of $57.26.

Synchrony Financial (NYSE:SYFGet Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.48 EPS. On average, equities research analysts predict that Synchrony Financial will post 6.28 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.79%. Synchrony Financial’s payout ratio is 14.35%.

Synchrony Financial Company 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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