Teachers Retirement System of The State of Kentucky Sells 69,177 Shares of Synchrony Financial (NYSE:SYF)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 470,283 shares of the financial services provider's stock after selling 69,177 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.12% of Synchrony Financial worth $23,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Coldstream Capital Management Inc. boosted its holdings in shares of Synchrony Financial by 14.1% in the third quarter. Coldstream Capital Management Inc. now owns 9,637 shares of the financial services provider's stock worth $499,000 after buying an additional 1,188 shares during the last quarter. Brophy Wealth Management LLC purchased a new stake in Synchrony Financial during the third quarter valued at approximately $544,000. Harvest Investment Advisors LLC raised its position in Synchrony Financial by 0.7% in the third quarter. Harvest Investment Advisors LLC now owns 39,954 shares of the financial services provider's stock worth $1,993,000 after acquiring an additional 265 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Synchrony Financial by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 215,396 shares of the financial services provider's stock worth $10,744,000 after acquiring an additional 1,354 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Synchrony Financial by 68.2% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 49,837 shares of the financial services provider's stock valued at $2,486,000 after acquiring an additional 20,205 shares during the period. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

NYSE:SYF traded up $0.02 during trading hours on Thursday, reaching $68.55. The stock had a trading volume of 3,223,075 shares, compared to its average volume of 3,938,467. The stock has a market capitalization of $26.69 billion, a PE ratio of 8.95, a PEG ratio of 0.94 and a beta of 1.63. Synchrony Financial has a 52 week low of $35.23 and a 52 week high of $69.39. The company has a 50 day moving average price of $60.52 and a two-hundred day moving average price of $51.83. 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 (NYSE:SYF - Get Free Report) last announced 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. 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 previous year, the business posted $1.48 earnings per share. Synchrony Financial's quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Synchrony Financial will post 6.53 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given 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 1.46%. Synchrony Financial's dividend payout ratio is currently 13.05%.

Analyst Ratings Changes

A number of equities analysts recently commented on SYF shares. Barclays raised their target price on Synchrony Financial from $49.00 to $59.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised their price objective on Synchrony Financial from $62.00 to $82.00 and gave the stock an "outperform" rating in a research note on Monday. Royal Bank of Canada lifted their price objective on Synchrony Financial from $55.00 to $62.00 and gave the company a "sector perform" rating in a research report on Thursday, October 17th. TD Cowen increased their target price on shares of Synchrony Financial from $60.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Finally, Compass Point lifted their price target on shares of Synchrony Financial from $60.00 to $77.00 and gave the company a "buy" rating in a report on Tuesday. One 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.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.53.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

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.