Aberdeen Group plc Reduces Stock Position in Synchrony Financial $SYF

Key Points

• Aberdeen Group plc has reduced its stake in Synchrony Financial by 26.7%, now owning 344,207 shares valued at approximately $17.96 million.
• Several institutional investors have significantly increased their stakes in Synchrony Financial, including Nuveen LLC and Massachusetts Financial Services Co., indicating strong interest in the stock.
• Synchrony Financial recently reported earnings per share of $2.50 for the quarter, surpassing analyst estimates, despite a 1.8% decline in revenue year-over-year.

Aberdeen Group plc lowered its stake in Synchrony Financial (NYSE:SYF - Free Report) by 26.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 344,207 shares of the financial services provider's stock after selling 125,490 shares during the quarter. Aberdeen Group plc owned 0.09% of Synchrony Financial worth $17,959,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SYF. Nuveen LLC bought a new position in Synchrony Financial in the first quarter worth approximately $175,294,000. Sachem Head Capital Management LP bought a new position in Synchrony Financial in the fourth quarter worth approximately $142,838,000. Price T Rowe Associates Inc. MD raised its position in Synchrony Financial by 340.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider's stock worth $163,303,000 after acquiring an additional 1,942,573 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Synchrony Financial by 755.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider's stock valued at $115,408,000 after purchasing an additional 1,925,217 shares during the period. Finally, Azora Capital LP raised its position in shares of Synchrony Financial by 700.5% during the 4th quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider's stock valued at $137,010,000 after purchasing an additional 1,844,509 shares during the period. 96.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SYF has been the topic of several recent analyst reports. Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Rothschild & Co Redburn initiated coverage on shares of Synchrony Financial in a research report on Friday, August 1st. They set a "neutral" rating and a $72.00 price objective on the stock. BTIG Research upgraded shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Monday, July 14th. Royal Bank Of Canada raised their price objective on shares of Synchrony Financial from $75.00 to $78.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Redburn Atlantic upgraded shares of Synchrony Financial to a "hold" rating in a research report on Friday, August 1st. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Synchrony Financial currently has an average rating of "Moderate Buy" and a consensus price target of $74.05.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the sale, the insider directly owned 108,062 shares in the company, valued at $7,024,030. The trade was a 9.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the sale, the insider owned 68,588 shares in the company, valued at approximately $4,801,160. This trade represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,494 shares of company stock worth $1,376,450 in the last three months. Insiders own 0.32% of the company's stock.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $71.84 on Tuesday. The company's 50-day moving average price is $68.13 and its 200-day moving average price is $60.21. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $73.76. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. The company has a market cap of $26.73 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.73 and a beta of 1.49.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.78. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the firm posted $1.55 EPS. The business's quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Synchrony Financial's payout ratio is 14.56%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.