Diversified Trust Co Decreases Stock Position in Synchrony Financial (NYSE:SYF)

Diversified Trust Co lessened its holdings in Synchrony Financial (NYSE:SYFGet Rating) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,693 shares of the financial services provider’s stock after selling 1,948 shares during the quarter. Diversified Trust Co’s holdings in Synchrony Financial were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of SYF. Gotham Asset Management LLC grew its position in Synchrony Financial by 72.9% in the 4th quarter. Gotham Asset Management LLC now owns 10,341 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 4,361 shares during the last quarter. Maverick Capital Ltd. grew its position in Synchrony Financial by 11.6% in the 4th quarter. Maverick Capital Ltd. now owns 2,820 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 294 shares during the last quarter. Summit Global Investments bought a new position in shares of Synchrony Financial during the 4th quarter worth $1,459,000. Pitcairn Co. grew its position in shares of Synchrony Financial by 1.6% during the 4th quarter. Pitcairn Co. now owns 43,060 shares of the financial services provider’s stock worth $1,998,000 after buying an additional 691 shares in the last quarter. Finally, Unigestion Holding SA grew its position in shares of Synchrony Financial by 117.2% during the 4th quarter. Unigestion Holding SA now owns 270,957 shares of the financial services provider’s stock worth $12,569,000 after buying an additional 146,216 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SYF. Wells Fargo & Company downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $45.00 to $32.00 in a research report on Wednesday, July 13th. Barclays dropped their price target 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. Piper Sandler set a $41.00 price target on Synchrony Financial in a research report on Tuesday, July 19th. Keefe, Bruyette & Woods dropped their price target on Synchrony Financial from $59.00 to $46.00 in a research report on Monday, July 11th. Finally, TheStreet cut Synchrony Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and an average target price of $44.00.

Synchrony Financial Trading Down 2.9 %

Synchrony Financial stock opened at $29.73 on Friday. The stock has a 50-day moving average of $33.20 and a two-hundred day moving average of $34.03. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.21 and a current ratio of 1.21. Synchrony Financial has a one year low of $27.22 and a one year high of $52.49. The stock has a market cap of $14.32 billion, a PE ratio of 4.34, a price-to-earnings-growth ratio of 0.24 and a beta of 1.56.

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

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 1st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.09%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, July 29th. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.43%.

Synchrony Financial Company Profile

(Get Rating)

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.

Further Reading

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

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