Kentucky Retirement Systems Sells 638 Shares of Synchrony Financial (NYSE:SYF)

Kentucky Retirement Systems lowered its holdings in Synchrony Financial (NYSE:SYF) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,259 shares of the financial services provider’s stock after selling 638 shares during the period. Kentucky Retirement Systems’ holdings in Synchrony Financial were worth $1,428,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Quent Capital LLC raised its stake in Synchrony Financial by 15.4% in the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 214 shares in the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of 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 buying an additional 262 shares during the last quarter. Certuity LLC raised its position in shares of Synchrony Financial by 0.8% during the 2nd quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock valued at $1,478,000 after buying an additional 264 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Synchrony Financial by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 90,343 shares of the financial services provider’s stock worth $3,896,000 after acquiring an additional 265 shares during the last quarter. Finally, US Bancorp DE grew its position in Synchrony Financial by 0.8% in the fourth quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock worth $1,329,000 after acquiring an additional 268 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Insiders Place Their Bets

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 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 approximately $3,563,209.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction dated 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 completion of the transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was 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. 0.33% of the stock is owned by corporate insiders.

Synchrony Financial Stock Down 0.9 %

Shares of NYSE SYF opened at $50.57 on Friday. The firm has a fifty day simple moving average of $48.38 and a two-hundred day simple moving average of $45.31. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $52.67. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $19.99 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 1.11 and a beta of 1.62.

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

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 yield of 1.98%. Synchrony Financial’s payout ratio is 14.35%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SYF. Baird R W upgraded Synchrony Financial to a “strong-buy” rating in a report on Friday, June 28th. The Goldman Sachs Group increased their price target on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Jefferies Financial Group boosted 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. Finally, Morgan Stanley reissued an “underweight” rating and issued a $30.00 price target on shares of Synchrony Financial in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.41.

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.