Glenmede Trust Co. NA Sells 5,842 Shares of Synchrony Financial (NYSE:SYF)

Glenmede Trust Co. NA cut its stake in Synchrony Financial (NYSE:SYF) by 15.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,982 shares of the financial services provider’s stock after selling 5,842 shares during the period. Glenmede Trust Co. NA’s holdings in Synchrony Financial were worth $1,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Synchrony Financial by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,486 shares of the financial services provider’s stock worth $315,381,000 after purchasing an additional 313,128 shares in the last quarter. AQR Capital Management LLC boosted its stake in Synchrony Financial by 14.6% during the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock worth $264,917,000 after buying an additional 727,649 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Synchrony Financial by 18.7% in the 2nd quarter. Hsbc Holdings PLC now owns 3,131,599 shares of the financial services provider’s stock valued at $147,599,000 after buying an additional 492,312 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Synchrony Financial by 5.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 2,790,177 shares of the financial services provider’s stock valued at $131,668,000 after buying an additional 142,306 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Synchrony Financial by 1.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,199,554 shares of the financial services provider’s stock worth $109,714,000 after acquiring an additional 37,484 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Compass Point increased their target price on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. BTIG Research downgraded Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped their price target on Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group lifted their price objective on Synchrony Financial from $64.00 to $72.50 and gave the company a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Insider Activity

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the sale, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Synchrony Financial Trading Up 0.4 %

Shares of SYF opened at $67.52 on Monday. The stock’s fifty day simple moving average is $57.60 and its 200-day simple moving average is $50.55. The firm has a market capitalization of $26.29 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.59. Synchrony Financial has a 12-month low of $31.26 and a 12-month high of $68.69. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.17. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 EPS. As a group, research analysts predict that Synchrony Financial will post 6.52 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

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.