Allspring Global Investments Holdings LLC Sells 5,173 Shares of Synchrony Financial (NYSE:SYF)

Allspring Global Investments Holdings LLC cut its stake in Synchrony Financial (NYSE:SYF) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,204 shares of the financial services provider’s stock after selling 5,173 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Synchrony Financial were worth $2,452,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SYF. Live Oak Investment Partners bought a new position in shares of Synchrony Financial in the fourth quarter valued at about $27,000. Exchange Traded Concepts LLC bought a new position in shares of Synchrony Financial in the third quarter valued at about $35,000. Covestor Ltd raised its position in shares of Synchrony Financial by 138.8% in the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 644 shares during the period. Zions Bancorporation N.A. raised its position in shares of Synchrony Financial by 230.5% in the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 855 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Synchrony Financial by 76.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,325 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 573 shares during the period. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Trading Up 1.9 %

SYF opened at $41.57 on Monday. The company’s 50 day moving average is $41.22 and its 200-day moving average is $36.45. Synchrony Financial has a 1-year low of $26.59 and a 1-year high of $43.83. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. The company has a market cap of $16.91 billion, a P/E ratio of 8.03, a PEG ratio of 1.03 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $4.45 billion. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. During the same period last year, the company posted $1.26 EPS. Equities research analysts predict that Synchrony Financial will post 5.54 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were issued 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 dividend payout ratio (DPR) is presently 19.31%.

Insider Activity at Synchrony Financial

In related news, insider Brian D. Doubles sold 134,696 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total value of $5,557,556.96. Following the completion of the transaction, the insider now owns 660,353 shares in the company, valued at approximately $27,246,164.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the transaction, the insider now owns 660,353 shares in the company, valued at approximately $27,246,164.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. Insiders sold a total of 148,158 shares of company stock worth $6,106,106 in the last quarter. 0.65% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on SYF. Evercore ISI upped their price target on shares of Synchrony Financial from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Barclays upped their price target on shares of Synchrony Financial from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Wells Fargo & Company upped their price target on shares of Synchrony Financial from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Bank of America upped their price target on shares of Synchrony Financial from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, Wolfe Research upgraded shares of Synchrony Financial from an “underperform” rating to an “outperform” rating and upped their price target for the company from $36.00 to $50.00 in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.44.

About Synchrony Financial

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.