Retirement Systems of Alabama Has $3.48 Million Stock Holdings in Synchrony Financial (NYSE:SYF)

Retirement Systems of Alabama decreased its position in Synchrony Financial (NYSE:SYF) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,199 shares of the financial services provider’s stock after selling 3,357 shares during the period. Retirement Systems of Alabama’s holdings in Synchrony Financial were worth $3,483,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SYF. Shufro Rose & Co. LLC raised its holdings in shares of Synchrony Financial by 0.7% in the 4th quarter. Shufro Rose & Co. LLC now owns 42,300 shares of the financial services provider’s stock worth $1,615,000 after buying an additional 300 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Synchrony Financial by 13.4% during the fourth quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 320 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Synchrony Financial by 3.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,886 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 371 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Synchrony Financial by 44.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 390 shares during the last quarter. Finally, Advisor Partners II LLC increased its position in shares of Synchrony Financial by 3.3% during the 3rd quarter. Advisor Partners II LLC now owns 15,864 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 507 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total value of $1,420,290.00. Following the completion of the sale, the insider now directly owns 121,042 shares in the company, valued at $5,446,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction 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 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 available through the SEC website. Also, insider Curtis Howse sold 31,562 shares of Synchrony Financial stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total value of $1,420,290.00. Following the completion of the sale, the insider now directly owns 121,042 shares in the company, valued at approximately $5,446,890. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,437 shares of company stock worth $7,242,432. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYF. Piper Sandler raised their price objective on shares of Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Morgan Stanley reissued an “underweight” rating and issued a $30.00 price objective on shares of Synchrony Financial in a research note on Thursday, February 8th. Evercore ISI lifted their price target on Synchrony Financial from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Bank of America upped their price target on shares of Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $43.74.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $45.27 on Wednesday. The stock has a market cap of $18.18 billion, a PE ratio of 6.49, a price-to-earnings-growth ratio of 1.12 and a beta of 1.58. The stock has a 50-day moving average of $42.36 and a 200-day moving average of $37.74. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23. Synchrony Financial has a one year low of $26.67 and a one year high of $46.72.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.19). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same period in the previous year, the company posted $1.35 EPS. As a group, sell-side analysts expect that Synchrony Financial will post 5.62 earnings per share for the current year.

Synchrony Financial declared that its board has initiated a share buyback program on Wednesday, April 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 5.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, May 3rd. Synchrony Financial’s payout ratio is presently 14.35%.

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.