Public Employees Retirement Association of Colorado Lowers Stake in Synchrony Financial (NYSE:SYF)

Public Employees Retirement Association of Colorado trimmed its holdings in Synchrony Financial (NYSE:SYF) by 3.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 43,232 shares of the financial services provider’s stock after selling 1,411 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Synchrony Financial were worth $2,040,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quent Capital LLC lifted its holdings in Synchrony Financial by 15.4% in the 1st 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 lifted its stake in shares of Synchrony Financial by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock valued at $1,518,000 after buying an additional 262 shares during the period. Certuity LLC lifted its stake in shares of Synchrony Financial by 0.8% during the second 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 during the period. Mutual of America Capital Management LLC boosted its position in Synchrony Financial by 0.3% during the first 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 stake in Synchrony Financial by 0.8% in the 4th 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 during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Trading Down 1.7 %

NYSE 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 stock has a market cap of $19.96 billion, a P/E ratio of 7.13, a PEG ratio of 1.11 and a beta of 1.62. 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 company’s fifty day simple moving average is $48.36 and its 200-day simple moving average is $45.42.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the firm earned $1.32 earnings per share. Equities research analysts predict that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

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

Insider Buying and Selling

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 transaction of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Synchrony Financial 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 transaction, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SYF shares. The Goldman Sachs Group increased their price target on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. 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. Royal Bank of Canada lifted their price target on Synchrony Financial from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday, July 18th. Jefferies Financial Group increased 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. Finally, Barclays boosted their target price on shares of Synchrony Financial from $46.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.41.

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.