Burney Co. Sells 129,403 Shares of Synchrony Financial (NYSE:SYF)

Burney Co. reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 64.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 70,765 shares of the financial services provider’s stock after selling 129,403 shares during the period. Burney Co.’s holdings in Synchrony Financial were worth $2,400,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Synchrony Financial by 0.9% in the 1st quarter. BlackRock Inc. now owns 41,115,547 shares of the financial services provider’s stock worth $1,195,640,000 after acquiring an additional 361,844 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Synchrony Financial by 6.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,123,671 shares of the financial services provider’s stock worth $282,786,000 after buying an additional 484,220 shares in the last quarter. First Trust Advisors LP increased its position in shares of Synchrony Financial by 14.9% during the first quarter. First Trust Advisors LP now owns 6,791,030 shares of the financial services provider’s stock valued at $197,483,000 after acquiring an additional 879,797 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Synchrony Financial by 151.8% during the first quarter. AQR Capital Management LLC now owns 4,764,164 shares of the financial services provider’s stock worth $135,016,000 after acquiring an additional 2,872,160 shares during the period. Finally, Norges Bank purchased a new position in Synchrony Financial in the fourth quarter worth $151,220,000. 94.72% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Down 1.8 %

Shares of NYSE:SYF opened at $29.76 on Thursday. The company has a market cap of $12.31 billion, a price-to-earnings ratio of 5.50, a PEG ratio of 1.29 and a beta of 1.61. Synchrony Financial has a one year low of $26.59 and a one year high of $37.99. The firm has a fifty day moving average price of $29.95 and a two-hundred day moving average price of $31.61. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.23 and a quick ratio of 1.23.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $1.48 EPS for the quarter, topping the consensus estimate of $1.43 by $0.05. Synchrony Financial had a return on equity of 18.82% and a net margin of 11.79%. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the business earned $1.47 earnings per share. Analysts anticipate that Synchrony Financial will post 5.15 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Wednesday, November 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, October 31st. Synchrony Financial’s dividend payout ratio is currently 18.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SYF shares. Piper Sandler raised their target price on Synchrony Financial from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, October 25th. The Goldman Sachs Group lowered their price objective on shares of Synchrony Financial from $40.00 to $37.00 in a research report on Monday, October 2nd. TD Cowen assumed coverage on shares of Synchrony Financial in a research note on Wednesday, November 1st. They set an “outperform” rating and a $34.00 price target for the company. Citigroup lowered their price target on shares of Synchrony Financial from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 6th. Finally, Morgan Stanley decreased their target price on Synchrony Financial from $28.00 to $27.00 and set an “underweight” rating for the company in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.76.

Synchrony Financial Company Profile

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.