DoubleLine ETF Adviser LP Trims Stock Position in Synchrony Financial (NYSE:SYF)

DoubleLine ETF Adviser LP trimmed its holdings in Synchrony Financial (NYSE:SYF) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,356 shares of the financial services provider’s stock after selling 385 shares during the period. DoubleLine ETF Adviser LP’s holdings in Synchrony Financial were worth $347,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Synchrony Financial by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 6,686,486 shares of the financial services provider’s stock worth $315,381,000 after acquiring an additional 313,128 shares during the last quarter. Boston Partners raised its stake in Synchrony Financial by 66.6% during the first quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after purchasing an additional 2,548,180 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Synchrony Financial by 14.6% in the 2nd quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock valued at $264,917,000 after purchasing an additional 727,649 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Synchrony Financial by 2.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 3,496,009 shares of the financial services provider’s stock valued at $150,748,000 after buying an additional 97,235 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of Synchrony Financial by 18.7% during the 2nd quarter. Hsbc Holdings PLC now owns 3,131,599 shares of the financial services provider’s stock worth $147,599,000 after buying an additional 492,312 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $49.05 on Friday. Synchrony Financial has a 52 week low of $27.30 and a 52 week 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 stock has a market cap of $19.39 billion, a P/E ratio of 7.04, a price-to-earnings-growth ratio of 1.13 and a beta of 1.62. The stock has a 50 day moving average of $48.21 and a 200-day moving average of $45.49.

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

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Baird R W raised Synchrony Financial to a “strong-buy” rating in a research report on Friday, June 28th. Morgan Stanley reiterated an “underweight” rating and set a $30.00 target price on shares of Synchrony Financial in a report on Wednesday, June 12th. Barclays raised their price target 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. Royal Bank of Canada boosted their price objective on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 18th. Finally, Compass Point initiated coverage on shares of Synchrony Financial in a research note on Tuesday, July 16th. They issued a “buy” rating and a $56.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.41.

Insider Buying and Selling at Synchrony Financial

In other news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction that occurred on 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 transaction, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the 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 sale, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bart Schaller sold 930 shares of the firm’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 completion of the transaction, 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 currently owned by 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.