AustralianSuper Pty Ltd trimmed its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 9.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,961,077 shares of the financial services provider's stock after selling 313,254 shares during the period. AustralianSuper Pty Ltd owned about 0.74% of Synchrony Financial worth $147,699,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Synchrony Financial by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,486 shares of the financial services provider's stock worth $315,381,000 after buying an additional 313,128 shares in the last quarter. Boston Partners lifted its position in Synchrony Financial by 66.6% in the 1st quarter. Boston Partners now owns 6,374,260 shares of the financial services provider's stock worth $274,892,000 after buying an additional 2,548,180 shares in the last quarter. AQR Capital Management LLC lifted its position in Synchrony Financial by 14.6% in the 2nd quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider's stock worth $264,917,000 after buying an additional 727,649 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Synchrony Financial by 2.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 3,496,009 shares of the financial services provider's stock worth $150,748,000 after buying an additional 97,235 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Synchrony Financial by 18.7% in the 2nd quarter. Hsbc Holdings PLC now owns 3,131,599 shares of the financial services provider's stock worth $147,599,000 after buying an additional 492,312 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.
Insider Transactions at Synchrony Financial
In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by corporate insiders.
Synchrony Financial Price Performance
Shares of NYSE SYF traded down $1.20 during trading on Thursday, reaching $55.11. The company had a trading volume of 4,156,686 shares, compared to its average volume of 3,934,769. Synchrony Financial has a 52 week low of $27.68 and a 52 week high of $57.37. The stock has a market cap of $22.13 billion, a PE ratio of 8.08, a PEG ratio of 1.19 and a beta of 1.61. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. The business's 50 day moving average price is $50.90 and its 200-day moving average price is $47.44.
Synchrony Financial (NYSE:SYF - Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm posted $1.48 earnings per share. The company's revenue was up 9.8% on a year-over-year basis. Analysts expect that Synchrony Financial will post 6.28 earnings per share for the current year.
Synchrony Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial's dividend payout ratio is presently 14.35%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the stock. Bank of America upgraded shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $54.00 price target on the stock in a report on Friday, August 9th. Wells Fargo & Company raised their price target on shares of Synchrony Financial from $53.00 to $60.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Evercore ISI raised their price target on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday. Jefferies Financial Group raised their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada raised their target price on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a "sector perform" rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Synchrony Financial presently has an average rating of "Moderate Buy" and an average price target of $56.60.
Check Out Our Latest Stock Report on SYF
About Synchrony Financial
(
Free Report)
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.
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