Portfolio Design Labs LLC Sells 39,975 Shares of Synchrony Financial (NYSE:SYF)

Portfolio Design Labs LLC cut its stake in Synchrony Financial (NYSE:SYF) by 89.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,524 shares of the financial services provider’s stock after selling 39,975 shares during the quarter. Portfolio Design Labs LLC’s holdings in Synchrony Financial were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYF. Janney Montgomery Scott LLC purchased a new position in shares of Synchrony Financial in the first quarter worth approximately $213,000. UniSuper Management Pty Ltd boosted its holdings in shares of Synchrony Financial by 417.6% in the first quarter. UniSuper Management Pty Ltd now owns 26,824 shares of the financial services provider’s stock worth $1,157,000 after buying an additional 21,642 shares during the last quarter. Lake Street Advisors Group LLC purchased a new position in shares of Synchrony Financial in the first quarter worth approximately $216,000. Toronto Dominion Bank boosted its holdings in shares of Synchrony Financial by 0.4% in the first quarter. Toronto Dominion Bank now owns 236,147 shares of the financial services provider’s stock worth $10,183,000 after buying an additional 1,029 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Synchrony Financial by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,300,576 shares of the financial services provider’s stock worth $56,082,000 after buying an additional 342,979 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. This represents a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated 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 transaction, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 18.03 % 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.

Analysts Set New Price Targets

Several brokerages have weighed in on SYF. BTIG Research downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. TD Cowen lifted their price target on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their price target on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Compass Point lifted their price objective on shares of Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their target price on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Synchrony Financial Trading Up 1.2 %

NYSE SYF opened at $64.40 on Thursday. The company’s 50-day moving average price is $55.06 and its 200-day moving average price is $49.47. 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 cap of $25.07 billion, a PE ratio of 8.41, a PEG ratio of 0.88 and a beta of 1.59. Synchrony Financial has a 12 month low of $29.15 and a 12 month high of $67.76.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results 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 analysts’ expectations 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 for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 earnings per share. Equities research analysts forecast that Synchrony Financial will post 6.52 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. 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.