Synchrony Financial (NYSE:SYF) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund trimmed its holdings in shares of Synchrony Financial (NYSE:SYF – Get Rating) by 6.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 64,013 shares of the financial services provider’s stock after selling 4,153 shares during the quarter. Texas Permanent School Fund’s holdings in Synchrony Financial were worth $2,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SYF. TCI Wealth Advisors Inc. lifted its stake in shares of Synchrony Financial by 41.9% in the 4th quarter. TCI Wealth Advisors Inc. now owns 935 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 276 shares during the period. Cowa LLC purchased a new stake in Synchrony Financial in the 3rd quarter worth $28,000. Covestor Ltd increased its holdings in Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 644 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in Synchrony Financial by 230.5% in the 1st quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 855 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Synchrony Financial by 76.2% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,325 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 573 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered shares of Synchrony Financial from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $46.00 to $32.00 in a report on Thursday, March 16th. StockNews.com began coverage on shares of Synchrony Financial in a report on Thursday, March 16th. They issued a “hold” rating for the company. Credit Suisse Group dropped their target price on shares of Synchrony Financial from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Tuesday, January 24th. The Goldman Sachs Group lowered their price target on shares of Synchrony Financial from $41.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 5th. Finally, Wells Fargo & Company lowered their price target on shares of Synchrony Financial from $37.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, March 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.56.

Insider Activity

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 transaction of $1,426,084.40. Following the completion of the sale, the insider now owns 70,040 shares in the company, valued at approximately $2,531,245.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Synchrony Financial 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 owns 70,040 shares in the company, valued at approximately $2,531,245.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bart Schaller sold 11,071 shares of Synchrony Financial stock in a transaction dated Friday, March 3rd. The shares were 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 approximately $2,597,820. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $27.12 on Thursday. Synchrony Financial has a one year low of $26.59 and a one year high of $40.88. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.22 and a current ratio of 1.22. The business has a fifty day moving average of $29.68 and a two-hundred day moving average of $33.20. The company has a market cap of $11.62 billion, a P/E ratio of 4.77, a price-to-earnings-growth ratio of 1.29 and a beta of 1.58.

Synchrony Financial (NYSE:SYF – Get Rating) last announced its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Synchrony Financial had a net margin of 14.93% and a return on equity of 21.68%. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the business earned $1.73 EPS. As a group, analysts predict that Synchrony Financial will post 4.93 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Tuesday, May 2nd will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, May 1st. Synchrony Financial’s dividend payout ratio is currently 16.20%.

Synchrony Financial declared that its board has authorized a stock repurchase plan on Tuesday, April 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.