Synchrony Financial (NYSE:SYF) Stake Cut by Community Trust & Investment Co.

Community Trust & Investment Co. trimmed its stake in Synchrony Financial (NYSE:SYF – Get Rating) by 2.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 285,842 shares of the financial services provider’s stock after selling 5,993 shares during the quarter. Community Trust & Investment Co.’s holdings in Synchrony Financial were worth $9,393,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in Synchrony Financial by 853.5% during the first quarter. First Trust Advisors LP now owns 6,218,641 shares of the financial services provider’s stock worth $216,471,000 after buying an additional 5,566,481 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Synchrony Financial in the 1st quarter valued at $61,172,000. AQR Capital Management LLC lifted its stake in shares of Synchrony Financial by 190.4% in the second quarter. AQR Capital Management LLC now owns 2,287,032 shares of the financial services provider’s stock valued at $62,367,000 after buying an additional 1,499,472 shares during the period. Millennium Management LLC raised its holdings in shares of Synchrony Financial by 52.5% in the 2nd quarter. Millennium Management LLC now owns 4,078,589 shares of the financial services provider’s stock worth $112,651,000 after buying an additional 1,404,388 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Synchrony Financial by 46.4% in the 2nd quarter. Deutsche Bank AG now owns 2,966,603 shares of the financial services provider’s stock worth $81,938,000 after buying an additional 940,211 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Bart Schaller sold 11,071 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $36.25, for a total transaction of $401,323.75. Following the sale, the insider now owns 71,664 shares in the company, valued at $2,597,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bart Schaller sold 11,071 shares of Synchrony Financial stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $36.25, for a total value of $401,323.75. Following the transaction, the insider now owns 71,664 shares in the company, valued at $2,597,820. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Alberto Casellas sold 39,460 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $36.14, for a total value of $1,426,084.40. Following the completion of the sale, the insider now directly owns 70,040 shares in the company, valued at $2,531,245.60. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

Synchrony Financial Stock Down 2.3 %

Shares of Synchrony Financial stock traded down $0.67 during trading hours on Friday, reaching $28.49. The company’s stock had a trading volume of 11,365,258 shares, compared to its average volume of 5,999,842. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s fifty day simple moving average is $34.70 and its two-hundred day simple moving average is $33.86. Synchrony Financial has a one year low of $27.22 and a one year high of $41.88. The company has a market capitalization of $12.45 billion, a P/E ratio of 4.67, a P/E/G ratio of 1.47 and a beta of 1.62.

Synchrony Financial (NYSE:SYF – Get Rating) last announced its quarterly earnings data on Monday, January 23rd. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.12 by $0.14. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.04 billion. Synchrony Financial had a net margin of 17.51% and a return on equity of 24.07%. During the same quarter in the previous year, the firm posted $1.48 earnings per share. On average, research analysts forecast that Synchrony Financial will post 5.07 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Monday, February 6th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, February 3rd. Synchrony Financial’s payout ratio is currently 15.08%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SYF shares. Oppenheimer raised Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Friday. Wells Fargo & Company raised their price objective on Synchrony Financial from $32.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 15th. BMO Capital Markets dropped their price objective on Synchrony Financial from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 24th. Credit Suisse Group dropped their price objective on Synchrony Financial from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 24th. Finally, UBS Group assumed coverage on Synchrony Financial in a research report on Monday, November 21st. They set a “neutral” rating and a $42.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.13.

Synchrony Financial Profile

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Synchrony Financial engages in the provision of consumer financial services. The firm is also involved in managing credit products through the following sales platforms: Home and Auto, Digital, Diversified and Value, Health and Wellness, and Lifestyle. The company was founded on September 12, 2003 and is headquartered in Stamford, CT.