Synchrony Financial (NYSE:SYF) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in Synchrony Financial (NYSE:SYFGet Rating) by 5.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 138,218 shares of the financial services provider’s stock after selling 7,929 shares during the period. Amalgamated Bank’s holdings in Synchrony Financial were worth $4,811,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SYF. First Trust Advisors LP grew its holdings in Synchrony Financial by 853.5% in the first quarter. First Trust Advisors LP now owns 6,218,641 shares of the financial services provider’s stock valued at $216,471,000 after purchasing an additional 5,566,481 shares during the last quarter. Norges Bank purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at $243,432,000. Marshall Wace LLP lifted its position in shares of Synchrony Financial by 8,460.7% in the fourth quarter. Marshall Wace LLP now owns 3,147,770 shares of the financial services provider’s stock valued at $146,028,000 after acquiring an additional 3,111,000 shares in the last quarter. BlackRock Inc. lifted its position in shares of Synchrony Financial by 4.3% in the fourth quarter. BlackRock Inc. now owns 46,743,789 shares of the financial services provider’s stock valued at $2,168,444,000 after acquiring an additional 1,945,620 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Synchrony Financial in the first quarter valued at $61,172,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $31.64 on Wednesday. The stock’s 50-day moving average is $33.17 and its 200-day moving average is $34.11. The company has a market cap of $15.24 billion, a price-to-earnings ratio of 4.62, a price-to-earnings-growth ratio of 0.25 and a beta of 1.56. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.21. Synchrony Financial has a 12 month low of $27.22 and a 12 month high of $52.49.

Synchrony Financial (NYSE:SYFGet Rating) last released its quarterly earnings data on Monday, July 18th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.17. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $2.74 billion. Synchrony Financial had a return on equity of 27.06% and a net margin of 22.76%. During the same period last year, the business posted $2.12 EPS. Equities analysts anticipate that Synchrony Financial will post 5.79 earnings per share for the current year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 1st were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, July 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.22. Synchrony Financial’s dividend payout ratio (DPR) is 13.43%.

Wall Street Analysts Forecast Growth

SYF has been the topic of several recent research reports. TheStreet downgraded Synchrony Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, July 19th. Credit Suisse Group upped their price objective on Synchrony Financial from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, July 19th. Wells Fargo & Company downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $45.00 to $32.00 in a research report on Wednesday, July 13th. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Finally, Barclays reduced their target price on Synchrony Financial from $64.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Synchrony Financial Profile

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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 cards, 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 to retail and commercial customers, 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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