Mutual of America Capital Management LLC Cuts Holdings in Synchrony Financial (NYSE:SYF)

Mutual of America Capital Management LLC decreased its position in shares of Synchrony Financial (NYSE:SYF) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,211 shares of the financial services provider’s stock after selling 1,432 shares during the period. Mutual of America Capital Management LLC’s holdings in Synchrony Financial were worth $2,393,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Accredited Wealth Management LLC bought a new stake in shares of Synchrony Financial during the fourth quarter valued at approximately $38,000. CVA Family Office LLC raised its stake in Synchrony Financial by 355.9% in the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider’s stock worth $37,000 after buying an additional 541 shares in the last quarter. Rothschild Investment LLC raised its stake in Synchrony Financial by 55.6% in the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider’s stock worth $46,000 after buying an additional 308 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Synchrony Financial by 503.7% in the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider’s stock worth $51,000 after buying an additional 811 shares in the last quarter. Finally, Global Financial Private Client LLC raised its stake in Synchrony Financial by 1,107.4% in the first quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider’s stock worth $52,000 after buying an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Analyst Ratings Changes

SYF has been the topic of a number of research analyst reports. JMP Securities boosted their price objective on shares of Synchrony Financial from $68.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday. BTIG Research upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, July 14th. Morgan Stanley upped their price target on shares of Synchrony Financial from $48.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Evercore ISI reduced their price target on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Synchrony Financial from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.22.

Synchrony Financial Trading Down 0.1%

NYSE SYF opened at $70.09 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $26.68 billion, a PE ratio of 9.61, a P/E/G ratio of 0.72 and a beta of 1.46. Synchrony Financial has a one year low of $40.55 and a one year high of $71.88. The firm’s fifty day moving average is $63.18 and its two-hundred day moving average is $59.82.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. Analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.71%. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.25. Synchrony Financial’s payout ratio is currently 16.46%.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the transaction, the insider owned 146,628 shares of the company’s stock, valued at $8,807,943.96. This trade represents a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the transaction, the insider directly owned 108,062 shares in the company, valued at approximately $7,024,030. This represents a 9.53% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

About Synchrony Financial

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.