Teachers Retirement System of The State of Kentucky Trims Stake in Synchrony Financial (NYSE:SYF)

Teachers Retirement System of The State of Kentucky lessened its stake in Synchrony Financial (NYSE:SYF - Free Report) by 16.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 410,579 shares of the financial services provider's stock after selling 81,772 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.11% of Synchrony Financial worth $21,735,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Synchrony Financial by 30.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider's stock valued at $3,895,000 after purchasing an additional 17,061 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Synchrony Financial in the first quarter valued at $11,506,000. BTC Capital Management Inc. lifted its position in shares of Synchrony Financial by 25.9% in the first quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock valued at $3,485,000 after acquiring an additional 13,526 shares in the last quarter. Merit Financial Group LLC increased its position in Synchrony Financial by 70.2% during the first quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider's stock worth $564,000 after purchasing an additional 4,397 shares during the last quarter. Finally, Clarius Group LLC purchased a new position in shares of Synchrony Financial in the 1st quarter worth about $242,000. Hedge funds and other institutional investors own 96.48% of the company's stock.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the company's stock in a transaction 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 sale, the insider owned 146,628 shares of the company's stock, valued at approximately $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the sale, the insider directly owned 108,062 shares in the company, valued at $7,024,030. This trade represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Cfra Research upgraded Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. 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 research report on Thursday, July 17th. Finally, Wells Fargo & Company raised their price target on Synchrony Financial from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial presently has an average rating of "Moderate Buy" and an average target price of $73.22.

Synchrony Financial Stock Up 2.0%

Shares of NYSE:SYF traded up $1.36 during midday trading on Tuesday, reaching $70.80. The company had a trading volume of 5,724,572 shares, compared to its average volume of 3,846,569. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $71.88. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.11. The stock has a market cap of $26.95 billion, a PE ratio of 9.71, a P/E/G ratio of 0.72 and a beta of 1.46. The business's 50 day moving average price is $63.18 and its 200 day moving average price is $59.78.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.78. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. 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 company posted $1.55 earnings per share. The business's revenue was down 1.8% on a year-over-year basis. Research analysts forecast 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. Investors of record on Tuesday, August 5th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.69%. Synchrony Financial's dividend payout ratio is 16.46%.

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.