Synchrony Financial (NYSE:SYF) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in shares of Synchrony Financial (NYSE:SYF) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,300 shares of the financial services provider’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Synchrony Financial were worth $1,112,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Swedbank AB lifted its position in Synchrony Financial by 23.8% in the 2nd quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock valued at $4,694,000 after purchasing an additional 19,098 shares during the last quarter. Cetera Investment Advisers bought a new position in Synchrony Financial in the 1st quarter worth approximately $2,192,000. Nordea Investment Management AB increased its position in Synchrony Financial by 33.5% in the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock valued at $115,266,000 after acquiring an additional 674,366 shares during the period. Meeder Asset Management Inc. raised its stake in Synchrony Financial by 98.6% during the 1st quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock valued at $1,029,000 after acquiring an additional 11,846 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Synchrony Financial by 52.6% during the 1st quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock valued at $21,134,000 after acquiring an additional 168,920 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Up 0.2 %

Shares of SYF opened at $55.25 on Friday. The business’s 50-day moving average price is $51.19 and its 200 day moving average price is $47.65. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $21.51 billion, a P/E ratio of 7.21, a P/E/G ratio of 1.09 and a beta of 1.59. Synchrony Financial has a 1-year low of $28.24 and a 1-year high of $57.37.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the firm posted $1.48 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts expect that Synchrony Financial will post 6.28 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a $0.25 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.81%. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SYF shares. JMP Securities reissued a “market outperform” rating and set a $60.00 price target on shares of Synchrony Financial in a report on Monday, October 14th. TD Cowen raised their target price on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their target price on Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.60.

Insider Activity

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction dated 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 sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate 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.