Canada Pension Plan Investment Board Cuts Holdings in Synchrony Financial (NYSE:SYF)

Canada Pension Plan Investment Board reduced its stake in shares of Synchrony Financial (NYSE:SYFFree Report) by 42.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 699,252 shares of the financial services provider’s stock after selling 509,953 shares during the period. Canada Pension Plan Investment Board’s holdings in Synchrony Financial were worth $21,376,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Kistler Tiffany Companies LLC purchased a new position in shares of Synchrony Financial in the second quarter valued at about $27,000. Live Oak Investment Partners bought a new position in shares of Synchrony Financial in the 4th quarter valued at about $27,000. Covestor Ltd lifted its holdings in shares of Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 644 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Synchrony Financial by 72.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,122 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 472 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Synchrony Financial in the 3rd quarter valued at about $35,000. 94.72% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $38.73 on Monday. The company has a market capitalization of $15.76 billion, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62. Synchrony Financial has a 52 week low of $26.59 and a 52 week high of $39.88. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. The firm has a 50 day moving average of $37.57 and a 200 day moving average of $33.39.

Synchrony Financial (NYSE:SYFGet Free Report) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. On average, sell-side analysts predict that Synchrony Financial will post 5.83 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.58%. Synchrony Financial’s payout ratio is 19.31%.

Analysts Set New Price Targets

A number of brokerages recently commented on SYF. Piper Sandler increased their price target on shares of Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on Synchrony Financial in a research report on Wednesday, January 10th. They set a “buy” rating and a $56.00 target price for the company. Stephens lifted their target price on Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. decreased their target price on Synchrony Financial from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, October 17th. Finally, BMO Capital Markets lowered Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 target price for the company. in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.72.

Check Out Our Latest Analysis on Synchrony Financial

Insider Transactions at Synchrony Financial

In other news, insider Bart Schaller sold 4,644 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $37.50, for a total value of $174,150.00. Following the sale, the insider now owns 60,266 shares in the company, valued at $2,259,975. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Bart Schaller sold 4,644 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $37.50, for a total transaction of $174,150.00. Following the sale, the insider now directly owns 60,266 shares of the company’s stock, valued at approximately $2,259,975. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David P. Melito sold 7,283 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the sale, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The disclosure for this sale can be found here. Insiders have sold 12,460 shares of company stock worth $477,302 over the last quarter. 0.65% of the stock is currently owned by insiders.

Synchrony Financial Company Profile

(Free Report)

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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