KBC Group NV Sells 419,660 Shares of Synchrony Financial (NYSE:SYF)

KBC Group NV lowered its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 24.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,303,349 shares of the financial services provider's stock after selling 419,660 shares during the period. KBC Group NV owned about 0.33% of Synchrony Financial worth $65,011,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Synchrony Financial in the first quarter worth about $28,000. Altshuler Shaham Ltd acquired a new position in shares of Synchrony Financial in the second quarter worth about $31,000. International Assets Investment Management LLC acquired a new position in shares of Synchrony Financial in the second quarter worth about $33,000. WR Wealth Planners LLC boosted its holdings in shares of Synchrony Financial by 83.6% in the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider's stock worth $34,000 after buying an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Synchrony Financial in the second quarter worth about $39,000. Institutional investors and hedge funds own 96.48% of the company's stock.

Synchrony Financial Stock Performance

NYSE:SYF traded down $0.30 during trading on Thursday, reaching $64.83. The company's stock had a trading volume of 2,045,312 shares, compared to its average volume of 3,979,162. The firm has a market cap of $25.24 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59. 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 firm has a 50 day moving average of $53.35 and a 200-day moving average of $48.78. Synchrony Financial has a 12 month low of $28.84 and a 12 month high of $67.76.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.17. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.48 EPS. Research analysts expect that Synchrony Financial will post 6.52 EPS for the current fiscal 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. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.54%. Synchrony Financial's dividend payout ratio is currently 13.05%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the sale, the insider now owns 76,251 shares of the company's stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Curtis Howse sold 21,934 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were 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 in the company, valued at approximately $5,498,831.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SYF has been the subject of several research reports. BMO Capital Markets decreased their price target on shares of Synchrony Financial from $42.00 to $41.00 and set a "market perform" rating for the company in a report on Thursday, July 18th. Evercore ISI lifted their price target on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. StockNews.com raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Wednesday, October 9th. Finally, JMP Securities reissued a "market outperform" rating and issued a $60.00 price target on shares of Synchrony Financial in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $56.60.

Synchrony Financial Company 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.