Mutual of America Capital Management LLC Sells 2,678 Shares of Synchrony Financial (NYSE:SYF)

Mutual of America Capital Management LLC reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 3.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 87,665 shares of the financial services provider’s stock after selling 2,678 shares during the period. Mutual of America Capital Management LLC’s holdings in Synchrony Financial were worth $4,137,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Denali Advisors LLC grew its position in shares of Synchrony Financial by 66.0% during the 2nd quarter. Denali Advisors LLC now owns 13,048 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 5,186 shares during the period. Citizens Financial Group Inc. RI bought a new position in Synchrony Financial in the 2nd quarter worth approximately $201,000. Dimensional Fund Advisors LP boosted its holdings in Synchrony Financial by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,486 shares of the financial services provider’s stock worth $315,381,000 after buying an additional 313,128 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Synchrony Financial by 564.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 194,317 shares of the financial services provider’s stock worth $9,170,000 after buying an additional 165,090 shares during the period. Finally, Thoroughbred Financial Services LLC boosted its holdings in Synchrony Financial by 102.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 21,648 shares of the financial services provider’s stock worth $1,021,000 after buying an additional 10,931 shares during the period. 96.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SYF has been the subject of several analyst reports. Barclays raised their price objective on shares of Synchrony Financial from $46.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Jefferies Financial Group raised their price objective on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Morgan Stanley reiterated an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a research note on Wednesday, June 12th. Finally, Robert W. Baird began coverage on shares of Synchrony Financial in a research note on Friday, June 28th. They issued an “outperform” rating and a $56.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and an average price target of $50.41.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $50.58 on Monday. The stock has a market cap of $20.31 billion, a PE ratio of 7.26, a PEG ratio of 1.11 and a beta of 1.62. The company’s fifty day moving average is $48.38 and its 200 day moving average is $45.37. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $52.67. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. During the same quarter last year, the company earned $1.32 EPS. Research analysts anticipate that Synchrony Financial will post 5.79 earnings per share for the current year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction on 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 owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the sale, the insider now directly owns 49,390 shares in the company, valued at approximately $2,510,987.60. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

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.