Synchrony Financial (NYSE:SYF) Position Lessened by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management Inc. reduced its stake in Synchrony Financial by 31.4%, selling 28,198 shares and holding 61,738 shares worth approximately $3.27 million by the end of the last quarter.
• Synchrony Financial's recent quarterly earnings showed an EPS of $2.50, exceeding analyst expectations of $1.72, while quarterly revenue totaled $3.65 billion, slightly below estimates.
• The company announced a quarterly dividend of $0.30 per share, marking a 1.65% dividend yield, with a declared payout ratio of 14.56%.

Meeder Asset Management Inc. decreased its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 31.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,738 shares of the financial services provider's stock after selling 28,198 shares during the quarter. Meeder Asset Management Inc.'s holdings in Synchrony Financial were worth $3,268,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SYF. Accredited Wealth Management LLC bought a new stake in shares of Synchrony Financial in the 4th quarter valued at approximately $38,000. CVA Family Office LLC increased its position in Synchrony Financial by 355.9% during the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 541 shares during the last quarter. Rothschild Investment LLC raised its stake 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 valued at $46,000 after acquiring an additional 308 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Synchrony Financial by 503.7% in the 1st 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. Finally, Global Financial Private Client LLC boosted its stake in shares of Synchrony Financial by 1,107.4% during the 1st quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock worth $52,000 after purchasing an additional 897 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

Shares of SYF stock traded down $2.17 during mid-day trading on Friday, reaching $67.50. The stock had a trading volume of 2,889,315 shares, compared to its average volume of 4,135,700. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $73.76. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02. The business has a 50-day simple moving average of $65.23 and a 200 day simple moving average of $60.20. The company has a market cap of $25.12 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly 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. The company had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.71 billion. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 earnings per share. On average, sell-side analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. Synchrony Financial's dividend payout ratio (DPR) is currently 14.56%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SYF. BTIG Research upgraded Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Monday, July 14th. Evercore ISI decreased their target price on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a report on Tuesday, April 22nd. JMP Securities raised their price target on shares of Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 17th. Finally, Barclays lowered their price objective on shares of Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial presently has a consensus rating of "Moderate Buy" and an average target price of $74.05.

Insider Buying and Selling

In related news, insider Curtis Howse sold 11,380 shares of the stock in a transaction 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 transaction, the insider directly owned 108,062 shares of the company's stock, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the insider owned 146,628 shares in the company, valued at $8,807,943.96. The trade was a 21.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company's stock.

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.