Synchrony Financial (NYSE:SYF) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd cut its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,817 shares of the financial services provider's stock after selling 36,647 shares during the quarter. USS Investment Management Ltd's holdings in Synchrony Financial were worth $5,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Synchrony Financial by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider's stock worth $650,678,000 after buying an additional 205,641 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Synchrony Financial by 7.4% during the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider's stock worth $358,105,000 after buying an additional 380,870 shares in the last quarter. Norges Bank acquired a new position in shares of Synchrony Financial during the fourth quarter worth about $347,903,000. Northern Trust Corp grew its position in shares of Synchrony Financial by 26.7% during the fourth quarter. Northern Trust Corp now owns 5,183,717 shares of the financial services provider's stock worth $336,942,000 after buying an additional 1,093,922 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Synchrony Financial by 15.1% in the fourth quarter. Ameriprise Financial Inc. now owns 3,602,422 shares of the financial services provider's stock valued at $234,157,000 after purchasing an additional 471,958 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock traded down $0.67 during trading hours on Wednesday, hitting $58.35. 609,722 shares of the company were exchanged, compared to its average volume of 3,914,536. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average of $52.77 and a 200-day moving average of $60.30. The stock has a market capitalization of $22.21 billion, a price-to-earnings ratio of 6.83, a P/E/G ratio of 0.71 and a beta of 1.42.

Synchrony Financial (NYSE:SYF - Get Free Report) last released 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 analysts' expectations of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. As a group, analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.30 dividend. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.20 annualized dividend and a yield of 2.06%. Synchrony Financial's dividend payout ratio is presently 16.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered 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. Morgan Stanley reaffirmed an "equal weight" rating and issued a $44.00 price target (down from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group reduced their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.95.

Insiders Place Their Bets

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 stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the sale, the insider now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently 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.