Ascent Group LLC Sells 28,668 Shares of Synchrony Financial (NYSE:SYF)

Ascent Group LLC lessened its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 71.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,210 shares of the financial services provider's stock after selling 28,668 shares during the period. Ascent Group LLC's holdings in Synchrony Financial were worth $559,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Graypoint LLC boosted its stake in shares of Synchrony Financial by 4.0% in the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider's stock valued at $233,000 after purchasing an additional 181 shares during the last quarter. Empirical Finance LLC lifted its holdings in Synchrony Financial by 1.3% in the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider's stock valued at $773,000 after buying an additional 204 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Synchrony Financial by 1.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider's stock valued at $997,000 after acquiring an additional 227 shares during the last quarter. Wedmont Private Capital raised its position in shares of Synchrony Financial by 3.3% in the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider's stock worth $387,000 after acquiring an additional 242 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Synchrony Financial by 0.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider's stock valued at $2,465,000 after purchasing an additional 251 shares during the period. Institutional investors own 96.48% of the company's stock.

Insiders Place Their Bets

In related news, insider Curtis Howse sold 21,934 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the transaction, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the sale, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Synchrony Financial Stock Performance

SYF stock traded up $0.10 during mid-day trading on Thursday, hitting $66.92. The company had a trading volume of 3,378,299 shares, compared to its average volume of 3,938,651. Synchrony Financial has a 12 month low of $34.26 and a 12 month high of $69.00. The stock's fifty day moving average price is $58.70 and its two-hundred day moving average price is $50.99. The firm has a market cap of $26.05 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.93 and a beta of 1.63. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the company earned $1.48 earnings per share. Synchrony Financial's revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial's dividend payout ratio (DPR) is presently 13.05%.

Analysts Set New Price Targets

SYF has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Synchrony Financial from $64.00 to $72.50 and gave the stock a "buy" rating in a report on Tuesday, November 19th. BTIG Research downgraded shares of Synchrony Financial from a "buy" rating to a "neutral" rating in a research report on Monday, September 16th. Wells Fargo & Company upgraded shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $60.00 to $85.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on Synchrony Financial from $58.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upped their price target on Synchrony Financial from $55.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Synchrony Financial currently has a consensus rating of "Moderate Buy" and an average price target of $58.68.

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.