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

Canada Pension Plan Investment Board lowered its holdings in shares of Synchrony Financial (NYSE:SYF) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 347,789 shares of the financial services provider’s stock after selling 16,488 shares during the period. Canada Pension Plan Investment Board owned about 0.09% of Synchrony Financial worth $16,412,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Quent Capital LLC grew its stake in shares of Synchrony Financial by 15.4% during the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock valued at $69,000 after buying an additional 214 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Synchrony Financial by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 262 shares during the period. Certuity LLC increased its stake in Synchrony Financial by 0.8% in the 2nd quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock worth $1,478,000 after purchasing an additional 264 shares during the period. Mutual of America Capital Management LLC lifted its position in Synchrony Financial by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 90,343 shares of the financial services provider’s stock valued at $3,896,000 after purchasing an additional 265 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Synchrony Financial by 0.8% during the fourth quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock valued at $1,329,000 after purchasing an additional 268 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. BMO Capital Markets dropped their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a report on Thursday, July 18th. Robert W. Baird initiated coverage on Synchrony Financial in a report on Friday, June 28th. They set an “outperform” rating and a $56.00 price target on the stock. Finally, Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.41.

Insiders Place Their Bets

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the sale, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF opened at $49.70 on Tuesday. 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. The stock has a market cap of $19.96 billion, a P/E ratio of 7.13, a P/E/G ratio of 1.11 and a beta of 1.62. The business’s 50 day moving average price is $48.36 and its 200-day moving average price is $45.42.

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

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.01%. Synchrony Financial’s dividend payout ratio is currently 14.35%.

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.