Bank of New York Mellon Corp Has $200.43 Million Stock Holdings in Synchrony Financial (NYSE:SYF)

Bank of New York Mellon Corp lessened its stake in shares of Synchrony Financial (NYSE:SYF – Get Rating) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,109,909 shares of the financial services provider’s stock after selling 150,357 shares during the period. Bank of New York Mellon Corp’s holdings in Synchrony Financial were worth $200,429,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in shares of Synchrony Financial by 5.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,612,692 shares of the financial services provider’s stock worth $45,458,000 after acquiring an additional 76,143 shares during the last quarter. Toroso Investments LLC grew its stake in shares of Synchrony Financial by 26.9% in the third quarter. Toroso Investments LLC now owns 9,434 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 2,001 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Synchrony Financial by 3.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 18,057 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 559 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Synchrony Financial in the third quarter worth $18,750,000. Finally, Power Corp of Canada acquired a new stake in shares of Synchrony Financial in the third quarter worth $241,000. Institutional investors and hedge funds own 95.97% of the company’s stock.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $28.49 on Friday. Synchrony Financial has a twelve month low of $27.22 and a twelve month high of $41.88. The firm has a market cap of $12.45 billion, a PE ratio of 4.67, a price-to-earnings-growth ratio of 1.47 and a beta of 1.62. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.20 and a current ratio of 1.20. The business has a fifty day moving average of $34.70 and a 200-day moving average of $33.86.

Synchrony Financial (NYSE:SYF – Get Rating) last announced its earnings results on Monday, January 23rd. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. Synchrony Financial had a return on equity of 24.07% and a net margin of 17.51%. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the company posted $1.48 earnings per share. On average, equities research analysts predict that Synchrony Financial will post 5.07 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Monday, February 6th were paid a $0.23 dividend. The ex-dividend date was Friday, February 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.23%. Synchrony Financial’s dividend payout ratio (DPR) is presently 15.08%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SYF. Oppenheimer upgraded shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research note on Friday. StockNews.com assumed coverage on Synchrony Financial in a research report on Thursday. They issued a “hold” rating for the company. Bank of America cut Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 13th. Citigroup raised their target price on Synchrony Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, January 24th. Finally, BMO Capital Markets reduced their target price on Synchrony Financial from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, January 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $38.13.

Insider Activity

In other news, insider Alberto Casellas sold 39,460 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $36.14, for a total value of $1,426,084.40. Following the completion of the sale, the insider now directly owns 70,040 shares in the company, valued at $2,531,245.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Alberto Casellas sold 39,460 shares of Synchrony Financial stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $36.14, for a total value of $1,426,084.40. Following the completion of the sale, the insider now directly owns 70,040 shares in the company, valued at $2,531,245.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bart Schaller sold 11,071 shares of Synchrony Financial stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $36.25, for a total value of $401,323.75. Following the completion of the sale, the insider now owns 71,664 shares of the company’s stock, valued at $2,597,820. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.

Synchrony Financial Company Profile

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Synchrony Financial engages in the provision of consumer financial services. The firm is also involved in managing credit products through the following sales platforms: Home and Auto, Digital, Diversified and Value, Health and Wellness, and Lifestyle. The company was founded on September 12, 2003 and is headquartered in Stamford, CT.