Synchrony Financial $SYF Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems reduced its Synchrony Financial stake by 19% in the third quarter, selling 57,100 shares and retaining 242,670 shares valued at approximately $17.2 million.
• Synchrony reported quarterly earnings of $2.68 per share, exceeding analysts’ $2.42 estimate, while revenue of $3.82 billion was roughly in line with expectations.
• The company declared a quarterly dividend of $0.34 per share, equivalent to an annualized $1.36 payout and a 1.8% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $87.83.

VIRGINIA RETIREMENT SYSTEMS ET Al cut its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 19.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 242,670 shares of the financial services provider's stock after selling 57,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.08% of Synchrony Financial worth $17,222,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Choreo LLC lifted its position in shares of Synchrony Financial by 6.3% during the 3rd quarter. Choreo LLC now owns 12,779 shares of the financial services provider's stock valued at $907,000 after acquiring an additional 754 shares during the period. Interchange Capital Partners LLC grew its holdings in shares of Synchrony Financial by 34.9% during the 3rd quarter. Interchange Capital Partners LLC now owns 6,654 shares of the financial services provider's stock worth $472,000 after purchasing an additional 1,722 shares in the last quarter. Childress Capital Advisors LLC grew its holdings in shares of Synchrony Financial by 69.3% during the 3rd quarter. Childress Capital Advisors LLC now owns 10,451 shares of the financial services provider's stock worth $742,000 after purchasing an additional 4,279 shares in the last quarter. BOKF NA increased its position in shares of Synchrony Financial by 1.7% in the third quarter. BOKF NA now owns 232,288 shares of the financial services provider's stock worth $16,485,000 after purchasing an additional 3,919 shares during the period. Finally, North Dakota State Investment Board increased its position in shares of Synchrony Financial by 67.3% in the third quarter. North Dakota State Investment Board now owns 17,267 shares of the financial services provider's stock worth $1,225,000 after purchasing an additional 6,944 shares during the period. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Trading Down 2.1%

Shares of Synchrony Financial stock opened at $75.36 on Friday. The firm has a market capitalization of $23.47 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 0.93 and a beta of 1.35. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm's 50 day moving average is $75.03 and its 200 day moving average is $73.64. Synchrony Financial has a 1 year low of $63.08 and a 1 year high of $88.77.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.26. Synchrony Financial had a net margin of 14.59% and a return on equity of 22.26%. The firm had revenue of $3.82 billion for the quarter, compared to analysts' expectations of $3.81 billion. During the same quarter in the previous year, the firm posted $2.86 earnings per share. Equities research analysts forecast that Synchrony Financial will post 9.60 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 5th. This represents a $1.36 annualized dividend and a dividend yield of 1.8%. Synchrony Financial's dividend payout ratio is 14.20%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SYF shares. Evercore lowered shares of Synchrony Financial from an "outperform" rating to a "hold" rating and set a $78.00 target price on the stock. in a report on Wednesday, October 21st. Wolfe Research upped their price target on shares of Synchrony Financial from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. upped their price target on shares of Synchrony Financial from $74.00 to $77.00 and gave the stock a "neutral" rating in a report on Wednesday, October 21st. Robert W. Baird increased their price target on shares of Synchrony Financial from $86.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley lowered their price objective on shares of Synchrony Financial from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Monday, October 12th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Synchrony Financial has an average rating of "Moderate Buy" and a consensus price target of $87.83.

Synchrony Financial Company Profile

Synchrony Financial NYSE: SYF is a consumer financial services company that provides private-label credit cards, co-branded credit cards and promotional financing programs. Its financing products are offered through retailers, manufacturers, healthcare providers and other businesses, helping consumers pay for purchases over time.

The company serves a range of industries, including digital commerce, home improvement, furniture, automotive, healthcare, jewelry, apparel, electronics and specialty retail.

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