Convergence Investment Partners LLC Sells 9,613 Shares of Synchrony Financial (NYSE:SYF)

Convergence Investment Partners LLC reduced its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 14.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,512 shares of the financial services provider's stock after selling 9,613 shares during the period. Synchrony Financial comprises 0.8% of Convergence Investment Partners LLC's holdings, making the stock its 26th biggest position. Convergence Investment Partners LLC's holdings in Synchrony Financial were worth $2,992,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Commonwealth Equity Services LLC boosted its holdings in Synchrony Financial by 7.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 44,519 shares of the financial services provider's stock worth $2,894,000 after buying an additional 3,083 shares in the last quarter. Mizuho Securities USA LLC raised its position in Synchrony Financial by 44.0% during the fourth quarter. Mizuho Securities USA LLC now owns 36,901 shares of the financial services provider's stock worth $2,399,000 after acquiring an additional 11,273 shares during the period. American Century Companies Inc. raised its position in Synchrony Financial by 14.4% during the fourth quarter. American Century Companies Inc. now owns 1,029,437 shares of the financial services provider's stock worth $66,913,000 after acquiring an additional 129,532 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Synchrony Financial during the fourth quarter worth $9,835,000. Finally, Fox Run Management L.L.C. acquired a new position in Synchrony Financial during the fourth quarter worth $450,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Performance

Shares of SYF traded up $1.09 during trading hours on Friday, reaching $72.90. 3,237,556 shares of the company's stock traded hands, compared to its average volume of 3,310,771. The business's fifty day simple moving average is $64.24 and its two-hundred day simple moving average is $60.04. The firm has a market capitalization of $27.12 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 0.72 and a beta of 1.46. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $73.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.25.

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

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be given a $0.30 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.65%. Synchrony Financial's dividend payout ratio (DPR) is 14.56%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the sale, the insider directly owned 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was 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 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. Company insiders own 0.32% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a research report on Wednesday. BTIG Research upgraded shares of 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. JPMorgan Chase & Co. upped their price objective on shares of Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Evercore ISI reduced their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial increased their target price on shares of Synchrony Financial from $68.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $74.17.

About Synchrony Financial

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.