Synchrony Financial (NYSE:SYF) Stake Lessened by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Synchrony Financial by 4.1%, now owning 3,305,306 shares valued at approximately $174.98 million.
• Insider transactions revealed significant sales, with Curtis Howse selling 11,380 shares and Jonathan S. Mothner selling 40,639 shares, resulting in notable decreases in their ownership stakes.
• Synchrony Financial recently announced a quarterly dividend of $0.30 per share, reflecting an annualized dividend yield of 1.7%.

Charles Schwab Investment Management Inc. cut its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,305,306 shares of the financial services provider's stock after selling 142,433 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.87% of Synchrony Financial worth $174,983,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SYF. Accredited Wealth Management LLC acquired a new position in shares of Synchrony Financial in the fourth quarter worth $38,000. CVA Family Office LLC raised its holdings in shares of Synchrony Financial by 355.9% in the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after acquiring an additional 541 shares during the last quarter. TCTC Holdings LLC raised its holdings in shares of Synchrony Financial by 89.0% in the first quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock worth $42,000 after acquiring an additional 371 shares during the last quarter. Rothschild Investment LLC raised its holdings in shares of Synchrony Financial by 55.6% in the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock worth $46,000 after acquiring an additional 308 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Synchrony Financial by 503.7% in the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock worth $51,000 after acquiring an additional 811 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Darrell Owens sold 600 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the sale, the insider directly owned 21,372 shares in the company, valued at approximately $1,452,227.40. This represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis Howse sold 11,380 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the transaction, the insider directly owned 108,062 shares of the company's stock, valued at $7,024,030. This trade represents a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,133 shares of company stock valued at $3,817,635 over the last quarter. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. JMP Securities lifted their price objective on Synchrony Financial from $68.00 to $77.00 and gave the company a "market outperform" rating in a research report on Thursday, July 17th. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Redburn Atlantic raised Synchrony Financial to a "hold" rating in a research report on Friday, August 1st. Finally, BTIG Research raised Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Monday, July 14th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Synchrony Financial currently has an average rating of "Moderate Buy" and a consensus price target of $74.05.

Synchrony Financial Stock Up 3.9%

Shares of NYSE:SYF traded up $2.74 during trading on Tuesday, hitting $72.34. The company's stock had a trading volume of 4,515,324 shares, compared to its average volume of 3,690,912. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $73.76. The stock's 50-day moving average price is $67.07 and its two-hundred day moving average price is $60.17. The company has a market capitalization of $26.91 billion, a PE ratio of 8.78, a PEG ratio of 0.71 and a beta of 1.49.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.78. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The firm had revenue of $3.65 billion for the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Synchrony Financial's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, August 5th. Synchrony Financial's dividend payout ratio is presently 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.