New York State Teachers Retirement System Sells 20,618 Shares of Synchrony Financial (NYSE:SYF)

New York State Teachers Retirement System trimmed its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 418,534 shares of the financial services provider's stock after selling 20,618 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Synchrony Financial worth $22,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Oppenheimer & Co. Inc. boosted its position in shares of Synchrony Financial by 22.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 21,203 shares of the financial services provider's stock worth $1,378,000 after buying an additional 3,824 shares during the period. SVB Wealth LLC acquired a new stake in Synchrony Financial during the 4th quarter worth about $556,000. US Bancorp DE boosted its position in Synchrony Financial by 52.8% during the 4th quarter. US Bancorp DE now owns 64,485 shares of the financial services provider's stock worth $4,192,000 after acquiring an additional 22,269 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Synchrony Financial by 116.5% in the 4th quarter. Jones Financial Companies Lllp now owns 11,059 shares of the financial services provider's stock valued at $719,000 after purchasing an additional 5,952 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Synchrony Financial in the 4th quarter valued at about $57,000. Institutional investors own 96.48% of the company's stock.

Insider Buying and Selling

In other news, insider Curtis Howse sold 11,380 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the sale, the insider directly owned 108,062 shares in the company, valued at approximately $7,024,030. This represents a 9.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Mothner sold 40,639 shares of the business's stock in a transaction on 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 sale, the insider directly owned 146,628 shares in the company, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a research report on Friday, June 13th. Cfra Research upgraded Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Wells Fargo & Company boosted their price target on Synchrony Financial from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.78.

Synchrony Financial Stock Up 1.1%

Shares of NYSE:SYF traded up $0.78 during midday trading on Friday, reaching $70.25. The company had a trading volume of 2,265,856 shares, compared to its average volume of 3,875,644. The business's 50 day moving average price is $59.52 and its 200 day moving average price is $59.52. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $70.93. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.11. The stock has a market cap of $26.74 billion, a PE ratio of 9.64, a P/E/G ratio of 0.72 and a beta of 1.46.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. The business had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. Research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a $0.30 dividend. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, May 5th. Synchrony Financial's dividend payout ratio is currently 16.46%.

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.