Synchrony Financial (NYSE:SYF) Shares Sold by State Street Corp

State Street Corp cut its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,253,329 shares of the financial services provider's stock after selling 544,507 shares during the period. State Street Corp owned 4.69% of Synchrony Financial worth $910,476,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SYF. Stevens Capital Management LP purchased a new position in Synchrony Financial in the 3rd quarter worth $329,000. Stifel Financial Corp boosted its position in Synchrony Financial by 22.8% in the third quarter. Stifel Financial Corp now owns 109,841 shares of the financial services provider's stock valued at $5,479,000 after buying an additional 20,410 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Synchrony Financial by 32.0% in the 3rd quarter. Quantinno Capital Management LP now owns 142,445 shares of the financial services provider's stock worth $7,105,000 after buying an additional 34,528 shares during the period. Quarry LP raised its position in Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider's stock worth $45,000 after buying an additional 675 shares during the last quarter. Finally, Redwood Investment Management LLC lifted its stake in Synchrony Financial by 4.3% during the 3rd quarter. Redwood Investment Management LLC now owns 31,279 shares of the financial services provider's stock valued at $1,553,000 after acquiring an additional 1,292 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYF has been the subject of a number of research reports. Compass Point boosted their target price on shares of Synchrony Financial from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Jefferies Financial Group upped their target price on Synchrony Financial from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Wells Fargo & Company upgraded Synchrony Financial from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on Synchrony Financial from $58.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Finally, BTIG Research lowered shares of Synchrony Financial from a "buy" rating to a "neutral" rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.68.

Synchrony Financial Trading Up 1.5 %

Shares of Synchrony Financial stock traded up $1.00 during trading hours on Friday, hitting $67.92. The company's stock had a trading volume of 3,423,147 shares, compared to its average volume of 3,582,129. The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 0.92 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 has a twelve month low of $34.42 and a twelve month high of $69.00. The firm has a fifty day moving average of $59.42 and a 200-day moving average of $51.31.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $3.76 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. Synchrony Financial's revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts forecast that Synchrony Financial will post 6.52 EPS for the current year.

Synchrony Financial Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.47%. Synchrony Financial's dividend payout ratio (DPR) is presently 13.05%.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of Synchrony Financial 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 completion of the transaction, the insider now directly owns 99,743 shares of the company's stock, valued at $5,498,831.59. The trade was a 18.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan S. Mothner sold 34,163 shares of the 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 sale, the insider now directly owns 127,587 shares in the company, valued at $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 corporate insiders.

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.