Heritage Investors Management Corp Trims Stake in Synchrony Financial (NYSE:SYF)

Heritage Investors Management Corp reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 479,800 shares of the financial services provider’s stock after selling 7,887 shares during the quarter. Heritage Investors Management Corp owned 0.12% of Synchrony Financial worth $23,932,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SYF. Asset Management One Co. Ltd. increased its position in shares of Synchrony Financial by 4.2% in the third quarter. Asset Management One Co. Ltd. now owns 166,319 shares of the financial services provider’s stock valued at $8,296,000 after buying an additional 6,766 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Synchrony Financial by 3.7% in the third quarter. QRG Capital Management Inc. now owns 298,134 shares of the financial services provider’s stock valued at $14,871,000 after buying an additional 10,587 shares in the last quarter. National Pension Service increased its position in shares of Synchrony Financial by 22.7% in the third quarter. National Pension Service now owns 957,758 shares of the financial services provider’s stock valued at $47,773,000 after buying an additional 177,051 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Synchrony Financial by 1.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,199,554 shares of the financial services provider’s stock valued at $109,714,000 after buying an additional 37,484 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Synchrony Financial by 4.6% in the third quarter. Van ECK Associates Corp now owns 15,482 shares of the financial services provider’s stock valued at $852,000 after buying an additional 676 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s 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 sale, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYF. JPMorgan Chase & Co. boosted their price objective on Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. TD Cowen increased their price objective on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Evercore ISI increased their price objective on Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird set a $62.00 price objective on Synchrony Financial in a research note on Thursday, October 17th. Finally, Barclays boosted their price target on shares of Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Synchrony Financial Trading Up 2.0 %

Shares of Synchrony Financial stock traded up $1.09 on Tuesday, reaching $56.15. The company had a trading volume of 56,878 shares, compared to its average volume of 3,909,274. The firm’s 50 day moving average price is $51.32 and its two-hundred day moving average price is $47.80. The firm has a market cap of $21.86 billion, a PE ratio of 7.27, a PEG ratio of 1.10 and a beta of 1.59. Synchrony Financial has a 52-week low of $28.84 and a 52-week high of $57.37. 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) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. Sell-side analysts predict that Synchrony Financial will post 6.28 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 1.78%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial’s dividend payout ratio (DPR) is 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.