Synchrony Financial (NYSE:SYF) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its holdings in Synchrony Financial (NYSE:SYF) by 22.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 541,780 shares of the financial services provider’s stock after selling 157,778 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Synchrony Financial were worth $23,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYF. Headlands Technologies LLC purchased a new position in shares of Synchrony Financial in the first quarter worth about $28,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Synchrony Financial in the fourth quarter worth about $55,000. Brown Brothers Harriman & Co. lifted its stake in shares of Synchrony Financial by 56.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after buying an additional 522 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Synchrony Financial in the fourth quarter worth about $60,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Synchrony Financial in the first quarter worth about $60,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $62.00 target price on shares of Synchrony Financial in a research note on Tuesday, June 11th. Robert W. Baird assumed coverage on shares of Synchrony Financial in a research note on Friday, June 28th. They set an “outperform” rating and a $56.00 target price on the stock. Baird R W raised shares of Synchrony Financial to a “strong-buy” rating in a research note on Friday, June 28th. The Goldman Sachs Group lifted their target price on shares of Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, BMO Capital Markets reduced their target price on shares of 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, nine have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.50.

Synchrony Financial Stock Down 7.4 %

NYSE SYF traded down $3.57 on Friday, hitting $44.99. 6,431,068 shares of the stock were exchanged, compared to its average volume of 3,372,373. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $52.67. The company has a market cap of $17.78 billion, a PE ratio of 6.45, a PEG ratio of 1.14 and a beta of 1.63. The company has a 50-day moving average price of $46.54 and a 200-day moving average price of $43.24.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 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 company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the business posted $1.32 EPS. Sell-side analysts anticipate that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.22%. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Synchrony Financial announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 5.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Synchrony Financial Company 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.