Chartwell Investment Partners LLC Sells 6,520 Shares of Synchrony Financial (NYSE:SYF)

Chartwell Investment Partners LLC lessened its holdings in shares of Synchrony Financial (NYSE:SYF) by 12.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,498 shares of the financial services provider’s stock after selling 6,520 shares during the period. Chartwell Investment Partners LLC’s holdings in Synchrony Financial were worth $2,270,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Synchrony Financial during the first quarter valued at approximately $28,000. Altshuler Shaham Ltd purchased a new position in shares of Synchrony Financial during the second quarter valued at approximately $31,000. International Assets Investment Management LLC purchased a new position in shares of Synchrony Financial during the second quarter valued at approximately $33,000. WR Wealth Planners LLC boosted its position in shares of Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after buying an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Synchrony Financial during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the transaction, the insider now directly owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $65.12 on Wednesday. The business’s fifty day simple moving average is $52.71 and its 200-day simple moving average is $48.52. The company has a market cap of $25.35 billion, a PE ratio of 8.50, a PEG ratio of 1.24 and a beta of 1.59. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 12-month low of $28.84 and a 12-month high of $67.76.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 earnings per share. Analysts expect that Synchrony Financial will post 6.42 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

Wall Street Analysts Forecast Growth

SYF has been the subject of several recent analyst reports. JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price target on Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Evercore ISI boosted their price target on Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird set a $62.00 price target on Synchrony Financial in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.60.

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.