Metis Global Partners LLC Lowers Holdings in Synchrony Financial (NYSE:SYF)

Metis Global Partners LLC lowered its holdings in Synchrony Financial (NYSE:SYF) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,922 shares of the financial services provider’s stock after selling 989 shares during the period. Metis Global Partners LLC’s holdings in Synchrony Financial were worth $1,219,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in shares of Synchrony Financial by 1.0% during the third quarter. Raymond James & Associates now owns 251,617 shares of the financial services provider’s stock worth $7,692,000 after buying an additional 2,487 shares during the period. Forsta AP Fonden raised its holdings in shares of Synchrony Financial by 15.5% in the 3rd quarter. Forsta AP Fonden now owns 88,600 shares of the financial services provider’s stock valued at $2,709,000 after purchasing an additional 11,900 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Synchrony Financial by 50.2% during the 3rd quarter. Mackenzie Financial Corp now owns 627,708 shares of the financial services provider’s stock worth $18,266,000 after purchasing an additional 209,929 shares during the last quarter. Strs Ohio grew its stake in shares of Synchrony Financial by 8.3% during the third quarter. Strs Ohio now owns 44,466 shares of the financial services provider’s stock worth $1,359,000 after purchasing an additional 3,422 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in Synchrony Financial by 18.3% in the third quarter. IFM Investors Pty Ltd now owns 123,473 shares of the financial services provider’s stock valued at $3,775,000 after buying an additional 19,126 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYF has been the subject of several analyst reports. Bank of America upped their price objective on Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods upgraded shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $45.00 to $62.00 in a research report on Thursday, May 2nd. Barclays increased their target price on shares of Synchrony Financial from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, BMO Capital Markets boosted their price target on shares of Synchrony Financial from $40.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Synchrony Financial currently has an average rating of “Hold” and an average price target of $43.74.

Insider Activity

In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 660,353 shares in the company, valued at $27,246,164.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the completion of the transaction, the insider now directly owns 121,042 shares in the company, valued at approximately $5,446,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 660,353 shares in the company, valued at approximately $27,246,164.78. The disclosure for this sale can be found here. Insiders sold 172,437 shares of company stock worth $7,242,432 in the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Synchrony Financial Trading Up 0.8 %

Shares of Synchrony Financial stock opened at $45.61 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The firm has a market cap of $18.31 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 1.12 and a beta of 1.58. Synchrony Financial has a 52-week low of $26.67 and a 52-week high of $46.72. The company’s 50-day simple moving average is $42.36 and its 200-day simple moving average is $37.74.

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

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

Synchrony Financial announced that its board has initiated a stock buyback program on Wednesday, April 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 5.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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 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.