Worldquant Millennium Advisors LLC Sells 227,744 Shares of Synchrony Financial (NYSE:SYF)

Worldquant Millennium Advisors LLC cut its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 53.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 197,017 shares of the financial services provider's stock after selling 227,744 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.05% of Synchrony Financial worth $9,827,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In other news, insider Jonathan S. Mothner sold 34,163 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the firm's stock in a transaction on 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 sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. TD Cowen lifted their price target on shares of Synchrony Financial from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a "sector perform" rating in a report on Thursday, October 17th. Robert W. Baird set a $62.00 target price on Synchrony Financial in a report on Thursday, October 17th. Jefferies Financial Group lifted their price target on Synchrony Financial from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Finally, Evercore ISI upped their price objective on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.68.

Synchrony Financial Stock Up 1.5 %

SYF stock traded up $1.00 during mid-day trading on Friday, hitting $67.92. The stock had a trading volume of 3,423,147 shares, compared to its average volume of 3,582,129. Synchrony Financial has a 1-year low of $34.42 and a 1-year high of $69.00. The company has a fifty day moving average of $59.42 and a 200 day moving average of $51.31. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $26.44 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 0.92 and a beta of 1.63.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.17. The firm had revenue of $3.81 billion for 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 revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 earnings per share. On average, equities analysts expect that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

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

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.