Mn Services Vermogensbeheer B.V. Has $7.91 Million Position in Synchrony Financial (NYSE:SYF)

Mn Services Vermogensbeheer B.V. decreased its position in shares of Synchrony Financial (NYSE:SYF) by 2.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 158,600 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Synchrony Financial were worth $7,911,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased 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 worth $648,000 after purchasing an additional 1,530 shares during the period. Norden Group LLC acquired a new position in Synchrony Financial in the first quarter valued at approximately $723,000. Sequoia Financial Advisors LLC bought a new position in Synchrony Financial in the first quarter valued at approximately $211,000. Janney Montgomery Scott LLC bought a new stake in shares of Synchrony Financial during the 1st quarter valued at $213,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Synchrony Financial by 37.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 54,506 shares of the financial services provider’s stock valued at $2,350,000 after purchasing an additional 14,813 shares during the period. 96.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

SYF has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. TD Cowen increased their price target on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Barclays boosted their price objective on shares of Synchrony Financial from $49.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, August 9th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.60.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $56.82 on Wednesday. The company’s fifty day simple moving average is $51.48 and its 200-day simple moving average is $47.91. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 12 month low of $28.84 and a 12 month high of $57.37. The firm has a market cap of $22.12 billion, a PE ratio of 7.42, a P/E/G ratio of 1.10 and a beta of 1.59.

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

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.76%. Synchrony Financial’s payout ratio is 13.05%.

About Synchrony Financial

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.