Synchrony Financial (NYSE:SYF) Shares Sold by Prudential PLC

Key Points

• Prudential PLC reduced its stake in Synchrony Financial by 41.7%, owning 40,283 shares after selling 28,784 shares, which were valued at approximately $2.13 million at the end of the reporting period.
• Synchrony Financial's quarterly earnings surpassed estimates, reporting $2.50 EPS on revenue of $3.65 billion, though revenue was down 1.8% year-over-year.
• The company declared a quarterly dividend of $0.30 per share, reflecting a 1.6% dividend yield with a payout ratio of 14.56%.

Prudential PLC lessened its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 41.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,283 shares of the financial services provider's stock after selling 28,784 shares during the period. Prudential PLC's holdings in Synchrony Financial were worth $2,133,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Synchrony Financial by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 48,420,051 shares of the financial services provider's stock worth $2,563,358,000 after purchasing an additional 281,383 shares during the last quarter. Allianz Asset Management GmbH grew its position in Synchrony Financial by 6.5% during the 1st quarter. Allianz Asset Management GmbH now owns 5,868,022 shares of the financial services provider's stock worth $310,653,000 after purchasing an additional 358,708 shares during the last quarter. Invesco Ltd. grew its position in Synchrony Financial by 13.7% during the 1st quarter. Invesco Ltd. now owns 5,858,422 shares of the financial services provider's stock worth $310,145,000 after purchasing an additional 706,212 shares during the last quarter. Northern Trust Corp grew its position in Synchrony Financial by 26.7% during the 4th 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Synchrony Financial by 9.1% during the 4th 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 last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Insiders Place Their Bets

In other news, insider Darrell Owens sold 600 shares of the company's 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 completion of the transaction, the insider directly owned 21,372 shares of the company's stock, valued at $1,452,227.40. This represents a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Curtis Howse sold 11,380 shares of the company's 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 transaction, the insider directly owned 108,062 shares of the company's stock, valued at approximately $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,133 shares of company stock valued at $3,817,635. Corporate insiders own 0.32% of the company's stock.

Synchrony Financial Stock Performance

Synchrony Financial stock traded down $1.35 during mid-day trading on Friday, hitting $71.48. The company had a trading volume of 2,841,657 shares, compared to its average volume of 3,812,948. 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 company has a market capitalization of $26.59 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 0.73 and a beta of 1.49. The company's fifty day moving average is $67.92 and its 200-day moving average is $60.25. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $73.76.

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

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 5th. Synchrony Financial's dividend payout ratio is presently 14.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SYF shares. Royal Bank Of Canada upped their target price on Synchrony Financial from $75.00 to $78.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Cfra Research upgraded Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Redburn Atlantic upgraded Synchrony Financial to a "hold" rating in a research report on Friday, August 1st. Wells Fargo & Company upped their target price on Synchrony Financial from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley upped their target price on Synchrony Financial from $48.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.05.

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.