Teacher Retirement System of Texas Trims Stock Position in Synchrony Financial (NYSE:SYF)

Teacher Retirement System of Texas lessened its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 53.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 274,542 shares of the financial services provider's stock after selling 312,768 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of Synchrony Financial worth $14,534,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SYF. TCTC Holdings LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter worth about $27,000. CVA Family Office LLC raised its stake in Synchrony Financial by 355.9% during the 1st 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. Accredited Wealth Management LLC acquired a new stake in Synchrony Financial during the 4th quarter worth approximately $38,000. Rothschild Investment LLC grew its stake in shares of Synchrony Financial by 55.6% in the 1st quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 308 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Synchrony Financial by 503.7% in the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 811 shares during the period. Institutional investors and hedge funds own 96.48% of the company's stock.

Synchrony Financial Price Performance

SYF traded up $0.78 during midday trading on Friday, reaching $70.25. 2,265,856 shares of the company's stock were exchanged, compared to its average volume of 3,875,644. The business's 50-day moving average price is $59.89 and its 200 day moving average price is $59.54. The stock has a market capitalization of $26.74 billion, a PE ratio of 9.64, a P/E/G ratio of 0.73 and a beta of 1.46. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $70.93. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. As a group, equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Truist Financial increased their price target on shares of Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a report on Friday, June 13th. The Goldman Sachs Group raised their price objective on shares of Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $44.00 target price (down previously from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Synchrony Financial has a consensus rating of "Moderate Buy" and an average target price of $65.78.

Insiders Place Their Bets

In other news, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the transaction, the insider owned 108,062 shares of the company's stock, valued at $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan S. Mothner sold 40,639 shares of the company'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 transaction, the insider directly 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. 0.32% of the stock is owned by company insiders.

About Synchrony Financial

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.