Synchrony Financial (NYSE:SYF) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lessened its stake in shares of Synchrony Financial (NYSE:SYFFree Report) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 115,853 shares of the financial services provider’s stock after selling 7,620 shares during the period. IFM Investors Pty Ltd’s holdings in Synchrony Financial were worth $4,424,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its stake in Synchrony Financial by 8.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,251 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 1,205 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Synchrony Financial by 30.3% in the first quarter. Panagora Asset Management Inc. now owns 33,337 shares of the financial services provider’s stock worth $1,160,000 after buying an additional 7,753 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Synchrony Financial by 1.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 69,748 shares of the financial services provider’s stock valued at $2,428,000 after acquiring an additional 1,057 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Synchrony Financial by 2.3% during the first quarter. Yousif Capital Management LLC now owns 101,114 shares of the financial services provider’s stock valued at $3,520,000 after acquiring an additional 2,310 shares during the period. Finally, National Pension Service raised its holdings in shares of Synchrony Financial by 0.9% during the first quarter. National Pension Service now owns 962,162 shares of the financial services provider’s stock valued at $33,493,000 after acquiring an additional 8,110 shares during the period. 94.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the transaction, the insider now directly owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David P. Melito sold 7,283 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares of the company’s stock, valued at $552,995.17. The disclosure for this sale can be found here. Insiders have sold 148,158 shares of company stock worth $6,106,106 in the last quarter. 0.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on SYF shares. BMO Capital Markets downgraded shares of Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 target price on the stock. in a research note on Wednesday, January 10th. Piper Sandler lifted their target price on Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Stephens upped their target price on Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Bank of America raised their price target on shares of Synchrony Financial from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Synchrony Financial in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $38.75.

Read Our Latest Report on SYF

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $41.55 on Friday. The stock has a market capitalization of $16.90 billion, a P/E ratio of 8.02, a P/E/G ratio of 1.01 and a beta of 1.61. The business has a 50-day moving average of $39.82 and a two-hundred day moving average of $34.92. Synchrony Financial has a fifty-two week low of $26.59 and a fifty-two week high of $43.83. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.22 and a quick ratio of 1.22.

Synchrony Financial (NYSE:SYFGet Free Report) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. On average, equities research analysts predict that Synchrony Financial will post 5.7 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid a $0.25 dividend. The ex-dividend date was Friday, February 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. Synchrony Financial’s payout ratio is presently 19.31%.

Synchrony Financial Company Profile

(Free Report)

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 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.

Further Reading

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

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