Synchrony Financial (NYSE:SYF) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its position in Synchrony Financial (NYSE:SYF - Free Report) by 0.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,757,932 shares of the financial services provider's stock after selling 8,299 shares during the period. Geode Capital Management LLC owned approximately 2.51% of Synchrony Financial worth $487,396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC lifted its position in Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 292 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at approximately $31,000. International Assets Investment Management LLC purchased a new stake in shares of Synchrony Financial in the second quarter valued at approximately $33,000. WR Wealth Planners LLC grew its holdings in Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider's stock worth $34,000 after acquiring an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Synchrony Financial in the second quarter worth $39,000. Hedge funds and other institutional investors own 96.48% of the company's stock.

Insider Activity at Synchrony Financial

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

Synchrony Financial Trading Down 0.7 %

NYSE:SYF traded down $0.48 during mid-day trading on Friday, reaching $68.05. The company's stock had a trading volume of 2,035,744 shares, compared to its average volume of 3,930,572. Synchrony Financial has a twelve month low of $35.29 and a twelve month high of $69.39. The company's fifty day simple moving average is $60.90 and its two-hundred day simple moving average is $51.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $26.49 billion, a P/E ratio of 8.95, a P/E/G ratio of 0.82 and a beta of 1.63.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.17. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. Synchrony Financial's revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 earnings per share. On average, equities analysts predict that Synchrony Financial will post 6.51 EPS for the current year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Monday, November 4th. Synchrony Financial's payout ratio is currently 13.05%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Synchrony Financial from $49.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. TD Cowen lifted their price target on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price target on Synchrony Financial from $64.00 to $72.50 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Robert W. Baird set a $62.00 target price on Synchrony Financial in a research report on Thursday, October 17th. Finally, BTIG Research cut Synchrony Financial from a "buy" rating to a "neutral" rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.53.

Synchrony Financial 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.