Principal Financial Group Inc. lessened its stake in Synchrony Financial (NYSE:SYF – Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 537,488 shares of the financial services provider’s stock after selling 3,541 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Synchrony Financial worth $15,630,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of SYF. Cambridge Investment Research Advisors Inc. grew its position in shares of Synchrony Financial by 8.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,251 shares of the financial services provider’s stock valued at $566,000 after buying an additional 1,205 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Synchrony Financial by 30.3% during the 1st quarter. Panagora Asset Management Inc. now owns 33,337 shares of the financial services provider’s stock valued at $1,160,000 after buying an additional 7,753 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Synchrony Financial by 1.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 69,748 shares of the financial services provider’s stock valued at $2,428,000 after buying an additional 1,057 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of Synchrony Financial by 2.3% during the 1st quarter. Yousif Capital Management LLC now owns 101,114 shares of the financial services provider’s stock valued at $3,520,000 after buying an additional 2,310 shares during the last quarter. Finally, National Pension Service grew its position in shares of Synchrony Financial by 0.9% during the 1st quarter. National Pension Service now owns 962,162 shares of the financial services provider’s stock valued at $33,493,000 after buying an additional 8,110 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.
Synchrony Financial Trading Down 0.3 %
Shares of NYSE:SYF opened at $31.86 on Friday. The company has a 50 day moving average of $34.01 and a 200-day moving average of $32.23. The firm has a market cap of $13.32 billion, a P/E ratio of 5.90, a P/E/G ratio of 1.44 and a beta of 1.60. Synchrony Financial has a twelve month low of $26.59 and a twelve month high of $40.88. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.13.
Synchrony Financial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Monday, July 31st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 28th. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 3.14%. Synchrony Financial’s dividend payout ratio is currently 18.52%.
Analyst Ratings Changes
SYF has been the subject of a number of recent research reports. StockNews.com downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Bank of America upped their target price on shares of Synchrony Financial from $37.00 to $38.00 in a research report on Monday, June 12th. Oppenheimer cut shares of Synchrony Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 14th. Citigroup decreased their target price on shares of Synchrony Financial from $44.00 to $43.00 in a research report on Friday, June 2nd. Finally, UBS Group upped their target price on shares of Synchrony Financial from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.00.
Read Our Latest Stock Report on SYF
Insider Activity at Synchrony Financial
In related news, insider David P. Melito sold 15,015 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $525,525.00. Following the completion of the sale, the insider now directly owns 13,960 shares of the company’s stock, valued at $488,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider David P. Melito sold 15,015 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $525,525.00. Following the completion of the sale, the insider now directly owns 13,960 shares of the company’s stock, valued at $488,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian D. Doubles sold 36,610 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $34.50, for a total transaction of $1,263,045.00. Following the sale, the insider now directly owns 565,240 shares of the company’s stock, valued at $19,500,780. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.
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 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.
Featured Articles
- Five stocks we like better than Synchrony Financial
- How to Invest in Solar Energy
- One of these 5 Pet Care Stocks Can Be the Next Short Squeeze
- Large Cap Stock Definition and How to Invest
- 3 High Short Interest Stocks that Investors are Getting Wrong
- How to Invest in Mining Stocks
- Retail Theft Rises: Two Ways For Investors To Beat Shrinkage
Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF – Free Report).
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.
