Handelsbanken Fonder AB Sells 23,713 Shares of Synchrony Financial (NYSE:SYF)

Handelsbanken Fonder AB reduced its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 188,339 shares of the financial services provider's stock after selling 23,713 shares during the quarter. Handelsbanken Fonder AB's holdings in Synchrony Financial were worth $9,971,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Synchrony Financial by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider's stock worth $650,678,000 after purchasing an additional 205,641 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Synchrony Financial by 7.4% during the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider's stock worth $358,105,000 after purchasing an additional 380,870 shares during the period. Norges Bank acquired a new stake in shares of Synchrony Financial during the fourth quarter worth approximately $347,903,000. Northern Trust Corp boosted its holdings in shares of Synchrony Financial by 26.7% during the fourth quarter. Northern Trust Corp now owns 5,183,717 shares of the financial services provider's stock worth $336,942,000 after purchasing an additional 1,093,922 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Synchrony Financial by 9.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,576,854 shares of the financial services provider's stock worth $297,496,000 after purchasing an additional 382,194 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Trading Down 2.7%

Synchrony Financial stock traded down $1.68 during trading hours on Friday, reaching $59.76. 2,960,007 shares of the company's stock traded hands, compared to its average volume of 3,920,174. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a fifty-two week low of $40.55 and a fifty-two week high of $70.93. The firm has a market capitalization of $22.75 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.71 and a beta of 1.44. The firm's 50 day moving average is $54.83 and its 200-day moving average is $59.75.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 5th. Synchrony Financial's dividend payout ratio (DPR) is currently 16.46%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley reaffirmed an "equal weight" rating and set a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Cfra Research raised shares of Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group cut their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Finally, Evercore ISI cut their price objective on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $64.78.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the sale, the insider now directly owns 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 filing with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by corporate insiders.

Synchrony Financial 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.