Synchrony Financial (NYSE:SYF) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its position in shares of Synchrony Financial (NYSE:SYF) by 20.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,249 shares of the financial services provider’s stock after selling 16,849 shares during the period. Texas Permanent School Fund Corp’s holdings in Synchrony Financial were worth $3,173,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB increased its position in Synchrony Financial by 23.8% during the second quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock worth $4,694,000 after buying an additional 19,098 shares during the period. Cetera Investment Advisers acquired a new position in Synchrony Financial during the first quarter worth approximately $2,192,000. Nordea Investment Management AB increased its position in Synchrony Financial by 33.5% during the first quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock worth $115,266,000 after buying an additional 674,366 shares during the period. Meeder Asset Management Inc. increased its position in Synchrony Financial by 98.6% during the first quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock worth $1,029,000 after buying an additional 11,846 shares during the period. Finally, Sei Investments Co. increased its position in Synchrony Financial by 52.6% during the first quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock worth $21,134,000 after buying an additional 168,920 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Robert W. Baird assumed coverage on Synchrony Financial in a research note on Friday, June 28th. They issued an “outperform” rating and a $56.00 target price on the stock. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. 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 note on Tuesday, July 9th. Royal Bank of Canada lifted their target price on Synchrony Financial from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 18th. Finally, BMO Capital Markets decreased their price target 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 equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.41.

Insider Transactions at Synchrony Financial

In other news, 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 of the company’s stock, valued at $3,563,209.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 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 $3,563,209.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bart Schaller sold 930 shares of the company’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 completion of the transaction, 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. Insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Up 1.6 %

SYF opened at $47.13 on Monday. The business’s fifty day moving average is $48.29 and its two-hundred day moving average is $45.07. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $18.63 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.09 and a beta of 1.62. Synchrony Financial has a one year low of $27.30 and a one year high of $52.67.

Synchrony Financial (NYSE:SYF) last posted 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. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the previous year, the business earned $1.32 earnings per share. Analysts anticipate that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were issued a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Synchrony Financial’s dividend payout ratio (DPR) is 14.35%.

Synchrony Financial 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.