Swiss National Bank Sells 18,500 Shares of Synchrony Financial (NYSE:SYF)

Key Points

• Swiss National Bank reduced its stake in Synchrony Financial by 1.7%, selling 18,500 shares to hold a total of 1,098,043 shares valued at approximately $58 million.
• The company recently reported a EPS of $2.50 for the last quarter, surpassing analysts' expectations of $1.72, though revenue declined by 1.8% year-over-year.
• Synchrony Financial announced a quarterly dividend of $0.30 per share, translating to an annual yield of 1.7%, with a payout ratio of 14.56%.

Swiss National Bank lowered its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,098,043 shares of the financial services provider's stock after selling 18,500 shares during the period. Swiss National Bank owned about 0.29% of Synchrony Financial worth $58,130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. 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 acquiring an additional 281,383 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings 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 buying an additional 358,708 shares during the period. Northern Trust Corp lifted its holdings 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 buying an additional 1,093,922 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 buying an additional 382,194 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Synchrony Financial by 15.1% during the 4th quarter. Ameriprise Financial Inc. now owns 3,602,422 shares of the financial services provider's stock worth $234,157,000 after buying an additional 471,958 shares during the period. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $69.36 on Monday. Synchrony Financial has a one year low of $40.54 and a one year high of $73.76. The firm has a market capitalization of $25.81 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 0.71 and a beta of 1.49. The business has a 50-day simple moving average of $66.57 and a 200 day simple moving average of $60.09. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24.

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

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 5th. Synchrony Financial's payout ratio is currently 14.56%.

Analysts Set New Price Targets

SYF has been the topic of several recent research reports. JMP Securities lifted their target price on Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a report on Thursday, July 17th. Royal Bank Of Canada lifted their target price on Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group lifted their target price on Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Morgan Stanley lifted their target price on Synchrony Financial from $48.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Synchrony Financial presently has an average rating of "Moderate Buy" and an average price target of $74.05.

Insider Buying and Selling

In other Synchrony Financial news, insider Darrell Owens sold 600 shares of the business'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 sale, the insider directly owned 21,372 shares of the company's stock, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the business'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 sale, the insider directly owned 108,062 shares of the company's stock, valued at $7,024,030. This represents a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,133 shares of company stock valued at $3,817,635. Company insiders own 0.33% of the company's stock.

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.

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