Synchrony Financial (NYSE:SYF) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC has reduced its stake in Synchrony Financial by 15.6% during the 1st quarter, now holding 31,127 shares valued at approximately $1.65 million.
• Synchrony Financial reported $2.50 earnings per share for the last quarter, significantly exceeding expectations of $1.72, with a revenue of $3.65 billion.
• The company has declared a quarterly dividend of $0.30 per share, which will be paid to stockholders on August 15, representing a 1.7% dividend yield.

Mizuho Securities USA LLC reduced its position in Synchrony Financial (NYSE:SYF - Free Report) by 15.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 31,127 shares of the financial services provider's stock after selling 5,774 shares during the quarter. Mizuho Securities USA LLC's holdings in Synchrony Financial were worth $1,648,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN grew its stake in shares of Synchrony Financial by 23.7% during the 4th quarter. Wells Fargo & Company MN now owns 294,843 shares of the financial services provider's stock worth $19,165,000 after purchasing an additional 56,483 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Synchrony Financial by 15.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 231,202 shares of the financial services provider's stock worth $15,028,000 after purchasing an additional 30,790 shares during the period. Bessemer Group Inc. grew its stake in shares of Synchrony Financial by 7.3% during the 4th quarter. Bessemer Group Inc. now owns 39,750 shares of the financial services provider's stock worth $2,583,000 after purchasing an additional 2,695 shares during the period. Scotia Capital Inc. acquired a new position in shares of Synchrony Financial during the 4th quarter worth $679,000. Finally, Sagespring Wealth Partners LLC acquired a new position in shares of Synchrony Financial during the 4th quarter worth $252,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $69.64 on Tuesday. The stock has a market capitalization of $25.91 billion, a P/E ratio of 8.45, a P/E/G ratio of 0.71 and a beta of 1.49. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $73.76. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24. The firm's 50-day moving average is $66.80 and its two-hundred day moving average is $60.09.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The company's revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 EPS. Equities analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued 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 is Tuesday, August 5th. Synchrony Financial's dividend payout ratio is presently 14.56%.

Insider Activity at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction dated 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 transaction, the insider directly owned 146,628 shares in the company, valued at $8,807,943.96. This represents a 21.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Curtis Howse sold 11,380 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the transaction, the insider owned 108,062 shares in the company, 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 have sold 61,133 shares of company stock valued at $3,817,635. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. BTIG Research raised shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Monday, July 14th. Morgan Stanley upped their price target on shares of Synchrony Financial from $48.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Cfra Research raised shares of Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Rothschild & Co Redburn started coverage on shares of Synchrony Financial in a research note on Friday, August 1st. They issued a "neutral" rating and a $72.00 price objective on the stock. Finally, Wall Street Zen raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.05.

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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