Handelsbanken Fonder AB Has $3.47 Million Stock Position in Synchrony Financial (NYSE:SYF)

Handelsbanken Fonder AB reduced its stake in Synchrony Financial (NYSE:SYF) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,465 shares of the financial services provider’s stock after selling 1,310 shares during the period. Handelsbanken Fonder AB’s holdings in Synchrony Financial were worth $3,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Wright Investors Service Inc. raised its stake in Synchrony Financial by 167.0% during the third quarter. Wright Investors Service Inc. now owns 50,901 shares of the financial services provider’s stock worth $2,539,000 after acquiring an additional 31,840 shares in the last quarter. SG Americas Securities LLC lifted its position in Synchrony Financial by 396.4% during the 3rd quarter. SG Americas Securities LLC now owns 276,988 shares of the financial services provider’s stock valued at $13,816,000 after purchasing an additional 221,191 shares during the period. Czech National Bank grew its holdings in Synchrony Financial by 5.2% during the 3rd quarter. Czech National Bank now owns 80,511 shares of the financial services provider’s stock worth $4,016,000 after acquiring an additional 3,992 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of Synchrony Financial by 25.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,051 shares of the financial services provider’s stock worth $102,000 after buying an additional 422 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Synchrony Financial by 72.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,800 shares of the financial services provider’s stock valued at $5,276,000 after buying an additional 46,800 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Stock Down 0.7 %

Shares of NYSE:SYF opened at $51.19 on Wednesday. The company has a market capitalization of $20.56 billion, a price-to-earnings ratio of 7.34, a P/E/G ratio of 1.16 and a beta of 1.61. Synchrony Financial has a 1 year low of $27.30 and a 1 year high of $52.67. The business’s 50-day moving average is $48.14 and its 200-day moving average is $45.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23.

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

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. Synchrony Financial’s payout ratio is 14.35%.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of research reports. Evercore ISI cut their price target on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday. Barclays increased their target price on Synchrony Financial from $46.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Baird R W raised Synchrony Financial to a “strong-buy” rating in a research report on Friday, June 28th. Jefferies Financial Group lifted their target price on Synchrony Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, BMO Capital Markets cut their target price on Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial has a consensus rating of “Moderate Buy” and a consensus target price of $51.43.

Insider Activity

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Bart Schaller sold 930 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the sale, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the transaction, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

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.