Aviva PLC Lowers Stock Position in Synchrony Financial (NYSE:SYF)

Aviva PLC lowered its position in shares of Synchrony Financial (NYSE:SYF) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 188,423 shares of the financial services provider’s stock after selling 5,461 shares during the period. Aviva PLC’s holdings in Synchrony Financial were worth $9,142,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Penserra Capital Management LLC lifted its position in Synchrony Financial by 18.8% during the first quarter. Penserra Capital Management LLC now owns 1,418 shares of the financial services provider’s stock valued at $57,000 after buying an additional 224 shares during the period. IndexIQ Advisors LLC lifted its position in Synchrony Financial by 2.6% during the second quarter. IndexIQ Advisors LLC now owns 9,239 shares of the financial services provider’s stock valued at $448,000 after buying an additional 233 shares during the period. CX Institutional lifted its position in Synchrony Financial by 27.1% during the second quarter. CX Institutional now owns 1,310 shares of the financial services provider’s stock valued at $64,000 after buying an additional 279 shares during the period. Commerce Bank lifted its position in Synchrony Financial by 1.6% during the second quarter. Commerce Bank now owns 17,937 shares of the financial services provider’s stock valued at $870,000 after buying an additional 285 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in Synchrony Financial by 10.2% during the second quarter. Quadrant Capital Group LLC now owns 3,261 shares of the financial services provider’s stock valued at $158,000 after buying an additional 302 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

SYF has been the subject of several recent research reports. The Goldman Sachs Group raised their price objective on Synchrony Financial from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 6th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Synchrony Financial in a research report on Monday, August 30th. JMP Securities lifted their price target on Synchrony Financial from $43.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Monday, July 19th. Barclays lifted their price target on Synchrony Financial from $52.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Finally, Credit Suisse Group lifted their price target on Synchrony Financial from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, September 10th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $54.19.

Shares of NYSE:SYF opened at $47.68 on Wednesday. Synchrony Financial has a fifty-two week low of $24.20 and a fifty-two week high of $52.14. The business has a 50-day simple moving average of $48.42 and a two-hundred day simple moving average of $45.89. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $27.16 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 0.38 and a beta of 1.80.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Monday, July 19th. The financial services provider reported $2.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.65. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $2.60 billion. Synchrony Financial had a return on equity of 27.59% and a net margin of 21.76%. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, research analysts predict that Synchrony Financial will post 6.36 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 12th. Shareholders of record on Monday, August 2nd were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.85%. Synchrony Financial’s dividend payout ratio is currently 33.85%.

Synchrony Financial announced that its board has initiated a share buyback plan on Tuesday, May 25th that permits the company to buyback $2.90 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 10.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

In other Synchrony Financial news, insider Carol Juel sold 8,708 shares of the business’s stock in a transaction dated Monday, June 28th. The stock was sold at an average price of $49.63, for a total transaction of $432,178.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.45% of the company’s stock.

About Synchrony Financial

Synchrony Financial engages in the provision of consumer financial services. It operates through three sales platforms: Retail Card, Payment Solutions, and CareCredit. The Retail Card platform is a provider of private label credit cards, and also provides Dual Cards and small-and medium-sized business credit products.

Further Reading: What is the price-sales ratio?

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).

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

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.