Candriam S.C.A. Sells 259,763 Shares of Synchrony Financial $SYF

Key Points

• Candriam S.C.A. cut its Synchrony Financial stake by 51.2%, selling 259,763 shares in the third quarter. It retained 247,927 shares, valued at about $17.66 million at quarter-end.
• Synchrony reported quarterly EPS of $2.68, beating the $2.42 analyst consensus, and revenue of $3.82 billion, slightly above expectations.
• Analysts’ average rating is “Moderate Buy”, with an average price target of $87.78; the company also declared a $0.34 quarterly dividend per share.

Candriam S.C.A. lowered its position in Synchrony Financial (NYSE:SYF - Free Report) by 51.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 247,927 shares of the financial services provider's stock after selling 259,763 shares during the quarter. Candriam S.C.A. owned about 0.08% of Synchrony Financial worth $17,660,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Synchrony Financial during the second quarter valued at $2,349,452,000. Bank of America Corp DE purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $1,122,961,000. Legal & General Group Plc purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $209,305,000. Bank of New York Mellon Corp purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $193,684,000. Finally, Deutsche Bank AG purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $186,973,000. Hedge funds and other institutional investors own 96.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on Synchrony Financial from $95.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. Evercore cut shares of Synchrony Financial from an "outperform" rating to a "hold" rating and set a $78.00 price objective on the stock. in a research report on Wednesday, October 21st. Barclays raised their target price on shares of Synchrony Financial from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, October 21st. UBS Group dropped their target price on shares of Synchrony Financial from $81.00 to $80.00 and set a "neutral" rating for the company in a research report on Monday, November 2nd. Finally, TD Cowen cut their price target on shares of Synchrony Financial from $90.00 to $86.00 and set a "buy" rating for the company in a research note on Tuesday, October 6th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Synchrony Financial has an average rating of "Moderate Buy" and an average target price of $87.78.

Synchrony Financial Stock Up 0.1%

SYF opened at $73.81 on Monday. The stock has a market cap of $22.99 billion, a PE ratio of 7.71, a P/E/G ratio of 0.91 and a beta of 1.40. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Synchrony Financial has a 52 week low of $63.08 and a 52 week high of $88.77. The business's fifty day simple moving average is $74.52 and its 200 day simple moving average is $73.56.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share for the quarter, beating analysts' consensus estimates of $2.42 by $0.26. Synchrony Financial had a return on equity of 22.26% and a net margin of 14.59%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter last year, the business posted $2.86 earnings per share. As a group, research analysts expect that Synchrony Financial will post 9.59 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 5th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, November 5th. Synchrony Financial's dividend payout ratio (DPR) is currently 14.20%.

Synchrony Financial Company Profile

Synchrony Financial is a consumer financial services company that provides credit products and related services through partnerships with retailers, healthcare providers and other businesses. Its offerings include private-label and co-branded credit cards, installment loans and promotional financing options.

The company also provides consumer banking products, including savings accounts and certificates of deposit. Its financing solutions serve customers in areas such as retail, home improvement, automotive, health and wellness, and digital commerce, primarily in the United States.

Synchrony was formerly part of General Electric's financial services business and became an independent, publicly traded company in 2014.

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