Synchrony Financial (NYSE:SYF) shares sold by Kestra Advisory Services LLC


Kestra Advisory Services LLC reduced its holdings of Synchrony Financial (NYSE:SYF – Get Rating) stock by 49.8% in the first quarter, according to the company in its most recent Form 13F filed with the Securities and Exchange Commission. The fund held 7,474 shares of the financial services provider after selling 7,416 shares during the period. Kestra Advisory Services LLC’s holdings in Synchrony Financial were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in Synchrony Financial during the first quarter worth approximately $110,000. Convergence Investment Partners LLC increased its position in Synchrony Financial by 1.8% during the first quarter. Convergence Investment Partners LLC now owns 23,793 shares of the financial services provider worth $828,000 after acquiring 412 additional shares in the last quarter. Robeco Institutional Asset Management BV increased its position in Synchrony Financial by 5.4% during the first quarter. Robeco Institutional Asset Management BV now owns 1,267,791 shares of the financial services provider worth $44,131,000 after acquiring an additional 64,391 shares in the last quarter. Ieq Capital LLC increased its position in Synchrony Financial by 13.9% during the first quarter. Ieq Capital LLC now owns 8,200 shares of the financial services provider worth $285,000 after acquiring 1,001 additional shares in the last quarter. Finally, Community Trust & Investment Co. increased its position in Synchrony Financial shares by 36.9% in the first quarter. Community Trust & Investment Co. now owns 298,280 shares of the financial services provider valued at $10,383,000 after buying an additional 80,459 shares in the last quarter. Institutional investors and hedge funds own 98.26% of the company’s shares.

Wall Street analysts predict growth

SYF has been the subject of a number of analyst reports. Stephens raised his price target on Synchrony Financial shares from $29.00 to $35.00 and gave the company an “equal weight” rating in a Tuesday, July 19 research report. TheStreet downgraded shares of Synchrony Financial from a “b-” rating to a “c+” rating in a Tuesday, July 19 report. Wolfe Research downgraded Synchrony Financial shares from a “peer performing” rating to an “underperforming” rating and set a target price of $22.00 for the company. in a report on Thursday, May 12. Morgan Stanley lowered its target price on Synchrony Financial shares from $40.00 to $31.00 and set an “equal weight” rating for the company in a Tuesday, July 12 report. Finally, Keefe, Bruyette & Woods lowered their target price on Synchrony Financial shares from $59.00 to $46.00 in a Monday, July 11 report. One financial analyst has assigned the stock a sell rating, five have assigned a hold rating and eleven have assigned the stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.76.

Synchrony financial price performance

SYF shares opened at $32.68 on Monday. The company has a market capitalization of $16.39 billion, a PE ratio of 4.77, a growth price-earnings ratio of 0.25 and a beta of 1.52. The company has a fifty-day simple moving average of $31.79 and a 200-day simple moving average of $37.17. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt ratio of 0.96. Synchrony Financial has a 12-month low of $27.22 and a 12-month high of $52.49.

Synchrony Financial (NYSE:SYF – Get Rating) last announced its results on Monday, July 18. The financial services provider reported earnings per share of $1.60 for the quarter, beating the consensus estimate of $1.47 by $0.13. Synchrony Financial had a net margin of 22.76% and a return on equity of 27.06%. In the same period a year earlier, the company earned earnings per share of $2.12. Equity research analysts expect Synchrony Financial to post earnings per share of 5.64 for the current fiscal year.

Synchrony Financial increases its dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11. Shareholders of record on Monday, August 1 will receive a dividend of $0.23. The ex-dividend date is Friday, July 29. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.22. This represents an annualized dividend of $0.92 and a dividend yield of 2.82%. Synchrony Financial’s dividend payout ratio is 12.85%.

Synchrony Financial announced that its board launched a stock buyback plan on Monday, April 18 that allows the company to repurchase $2.80 billion in outstanding stock. This repurchase authorization authorizes the financial services provider to repurchase up to 13.6% of its shares through purchases on the open market. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Synchrony financial profile

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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-branded 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 for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.

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Institutional ownership by quarter for Synchrony Financial (NYSE:SYF)



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