Synchrony Financial (NYSE:SYF) Stock Holdings Cut by Westpac Banking Corp

Key Points

• Westpac Banking Corp reduced its stake in Synchrony Financial by 9.6%, owning 78,711 shares after selling 8,390 shares, which are now valued at approximately $4.17 million.
• Insider Brian J. Sr. Wenzel sold 8,514 shares at an average price of $70.00, marking an 11.04% decrease in ownership.
• Synchrony Financial announced a quarterly dividend of $0.30, with an annualized yield of 1.7%, and a payout ratio of 14.56%.

Westpac Banking Corp lessened its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 9.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 78,711 shares of the financial services provider's stock after selling 8,390 shares during the period. Westpac Banking Corp's holdings in Synchrony Financial were worth $4,167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SYF. Nuveen LLC acquired a new stake in shares of Synchrony Financial during the 1st quarter valued at $175,294,000. Sachem Head Capital Management LP acquired a new stake in shares of Synchrony Financial during the 4th quarter valued at $142,838,000. Price T Rowe Associates Inc. MD lifted its position in shares of Synchrony Financial by 340.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider's stock valued at $163,303,000 after acquiring an additional 1,942,573 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Synchrony Financial by 755.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider's stock valued at $115,408,000 after acquiring an additional 1,925,217 shares during the last quarter. Finally, Azora Capital LP lifted its position in shares of Synchrony Financial by 700.5% during the 4th quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider's stock valued at $137,010,000 after acquiring an additional 1,844,509 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company's stock.

Insiders Place Their Bets

In other news, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total value of $595,980.00. Following the transaction, the insider directly owned 68,588 shares in the company, valued at approximately $4,801,160. The trade was a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of Synchrony Financial stock in a transaction dated Tuesday, June 24th. The stock was 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 in the company, valued at $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. Over the last three months, insiders have sold 61,133 shares of company stock valued at $3,817,635. Company insiders own 0.33% of the company's stock.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $69.64 on Tuesday. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $73.76. The business has a 50-day moving average of $66.80 and a two-hundred day moving average of $60.09. 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. 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 announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, topping 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 company had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The business's quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays cut their price objective on Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. BTIG Research raised Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Monday, July 14th. Royal Bank Of Canada increased their price objective on Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, The Goldman Sachs Group increased their price objective on Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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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