Synchrony Financial (NYSE:SYF) Position Trimmed by Forsta AP Fonden

Forsta AP Fonden lowered its stake in Synchrony Financial (NYSE:SYF) by 54.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,600 shares of the financial services provider’s stock after selling 102,700 shares during the period. Forsta AP Fonden’s holdings in Synchrony Financial were worth $5,694,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of SYF. Larson Financial Group LLC raised its position in shares of 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 purchasing an additional 292 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Synchrony Financial by 151.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 486 shares during the period. Quarry LP lifted its position in shares of Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 675 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Synchrony Financial in the 3rd quarter worth approximately $50,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Synchrony Financial by 36.6% during the third quarter. Venturi Wealth Management LLC now owns 1,662 shares of the financial services provider’s stock valued at $83,000 after buying an additional 445 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SYF. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Jefferies Financial Group raised their price target on Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $59.00 to $79.00 in a research note on Monday, January 6th. Bank of America upped their price target on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.30.

Insider Buying and Selling at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction 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 sale, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Down 0.8 %

SYF opened at $68.90 on Friday. The firm has a market cap of $26.82 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 0.80 and a beta of 1.64. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.25 and a current ratio of 1.24. The firm’s 50-day simple moving average is $67.10 and its 200-day simple moving average is $57.30. Synchrony Financial has a twelve month low of $37.91 and a twelve month high of $70.93.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Equities research analysts anticipate that Synchrony Financial will post 6.73 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s payout ratio is presently 11.71%.

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.