Synchrony Financial (NYSE:SYF) Stake Reduced by Choreo LLC

Choreo LLC reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 46.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,614 shares of the financial services provider’s stock after selling 9,279 shares during the period. Choreo LLC’s holdings in Synchrony Financial were worth $690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd grew its stake in Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after buying an additional 253 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 292 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 486 shares in the last quarter. Quarry LP grew its stake in shares of Synchrony Financial by 301.3% in the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 675 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Synchrony Financial in the third quarter worth $50,000. 96.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, the insider now directly owns 127,587 shares of the company’s stock, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Trading Down 3.0 %

Shares of NYSE SYF opened at $65.45 on Tuesday. Synchrony Financial has a one year low of $38.25 and a one year high of $70.93. The firm has a market capitalization of $25.48 billion, a PE ratio of 7.66, a PEG ratio of 0.72 and a beta of 1.63. The company has a current ratio of 1.24, a quick ratio of 1.25 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $67.17 and a two-hundred day moving average price of $58.11.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. As a group, analysts predict that Synchrony Financial will post 7.45 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. Synchrony Financial’s payout ratio is presently 11.71%.

Wall Street Analysts Forecast Growth

SYF has been the subject of several recent analyst reports. Wells Fargo & Company raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $85.00 in a research note on Tuesday, December 3rd. TD Cowen lifted their target price on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.30.

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.