State of New Jersey Common Pension Fund D Sells 11,768 Shares of Synchrony Financial (NYSE:SYF)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Synchrony Financial (NYSE:SYFFree Report) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 231,352 shares of the financial services provider’s stock after selling 11,768 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Synchrony Financial were worth $7,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Delphia USA Inc. lifted its stake in shares of Synchrony Financial by 3.1% in the 4th quarter. Delphia USA Inc. now owns 9,578 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 287 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Synchrony Financial by 8.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,673 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 301 shares during the last quarter. Legacy Capital Group California Inc. lifted its stake in shares of Synchrony Financial by 2.8% in the 2nd quarter. Legacy Capital Group California Inc. now owns 11,593 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 320 shares during the last quarter. Deseret Mutual Benefit Administrators raised its position in Synchrony Financial by 3.5% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 10,116 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 339 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Synchrony Financial by 2.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,310 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 351 shares during the last quarter. Institutional investors own 94.72% of the company’s stock.

Synchrony Financial Stock Performance

SYF stock opened at $39.53 on Tuesday. The stock has a market capitalization of $16.08 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62. Synchrony Financial has a 12-month low of $26.59 and a 12-month high of $39.88. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. The stock’s 50 day simple moving average is $37.68 and its 200 day simple moving average is $33.42.

Synchrony Financial (NYSE:SYFGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.10. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same period in the prior year, the firm posted $1.26 EPS. As a group, research analysts forecast that Synchrony Financial will post 5.83 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be given a $0.25 dividend. The ex-dividend date is Friday, February 2nd. This represents a $1.00 annualized dividend and a yield of 2.53%. Synchrony Financial’s dividend payout ratio (DPR) is presently 19.31%.

Insider Activity at Synchrony Financial

In other news, insider David P. Melito sold 7,283 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the transaction, the insider now directly owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Bart Schaller sold 4,644 shares of Synchrony Financial stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $37.50, for a total transaction of $174,150.00. Following the completion of the sale, the insider now owns 60,266 shares of the company’s stock, valued at $2,259,975. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David P. Melito sold 7,283 shares of Synchrony Financial stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the transaction, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,460 shares of company stock valued at $477,302. 0.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. TD Cowen assumed coverage on Synchrony Financial in a research report on Wednesday, November 1st. They set an “outperform” rating and a $34.00 price target for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $30.00 price target on shares of Synchrony Financial in a research report on Thursday, February 8th. BMO Capital Markets lowered Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 price target for the company. in a research report on Wednesday, January 10th. The Goldman Sachs Group upped their target price on Synchrony Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, Stephens upped their target price on Synchrony Financial from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial has an average rating of “Hold” and a consensus price target of $37.72.

Check Out Our Latest Research Report on Synchrony Financial

Synchrony Financial Profile

(Free Report)

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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