Synchrony Financial (NYSE:SYF) Shares Sold by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC reduced its holdings in shares of Synchrony Financial (NYSE:SYF) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,243 shares of the financial services provider’s stock after selling 192 shares during the quarter. AlphaCentric Advisors LLC’s holdings in Synchrony Financial were worth $311,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in Synchrony Financial by 11.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,036 shares of the financial services provider’s stock valued at $648,000 after purchasing an additional 1,530 shares during the period. Norden Group LLC purchased a new stake in shares of Synchrony Financial during the 1st quarter valued at about $723,000. Sequoia Financial Advisors LLC acquired a new position in Synchrony Financial during the 1st quarter worth approximately $211,000. Janney Montgomery Scott LLC purchased a new position in Synchrony Financial in the 1st quarter worth approximately $213,000. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Synchrony Financial by 28.1% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,665 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 2,779 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Trading Up 0.1 %

Synchrony Financial stock opened at $55.06 on Tuesday. The company has a 50 day moving average price of $51.32 and a 200 day moving average price of $47.80. 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 52 week low of $28.84 and a 52 week high of $57.37. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 7.19, a P/E/G ratio of 1.10 and a beta of 1.59.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. Synchrony Financial’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts forecast that Synchrony Financial will post 6.28 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, November 4th. Synchrony Financial’s payout ratio is presently 13.05%.

Insiders Place Their Bets

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

SYF has been the subject of several analyst reports. Morgan Stanley upped their target price on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. Compass Point raised their target price on Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. BTIG Research cut Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a report on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price objective on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.60.

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.