New York State Common Retirement Fund Sells 45,629 Shares of Synchrony Financial (NYSE:SYF)

New York State Common Retirement Fund lowered its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 311,354 shares of the financial services provider's stock after selling 45,629 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Synchrony Financial worth $11,891,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Boston Partners raised its stake in shares of Synchrony Financial by 158.9% in the 3rd quarter. Boston Partners now owns 3,095,762 shares of the financial services provider's stock valued at $94,609,000 after acquiring an additional 1,900,216 shares during the period. Invesco Ltd. grew its holdings in Synchrony Financial by 16.0% during the 3rd quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider's stock worth $167,187,000 after acquiring an additional 755,856 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Synchrony Financial by 33.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,907,126 shares of the financial services provider's stock worth $88,871,000 after acquiring an additional 720,587 shares in the last quarter. American Century Companies Inc. grew its holdings in Synchrony Financial by 99.7% during the 3rd quarter. American Century Companies Inc. now owns 958,641 shares of the financial services provider's stock worth $29,306,000 after acquiring an additional 478,676 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Synchrony Financial during the 3rd quarter worth $11,732,000. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Price Performance

Shares of SYF stock traded down $0.02 during midday trading on Wednesday, reaching $43.96. 4,135,171 shares of the company were exchanged, compared to its average volume of 4,467,897. Synchrony Financial has a 12 month low of $26.59 and a 12 month high of $45.46. The company has a market cap of $17.65 billion, a P/E ratio of 6.22, a PEG ratio of 1.09 and a beta of 1.61. The company's 50 day moving average price is $41.84 and its two-hundred day moving average price is $37.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.19). Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the firm posted $1.35 earnings per share. On average, sell-side analysts expect that Synchrony Financial will post 5.62 earnings per share for the current year.

Synchrony Financial announced that its Board of Directors has authorized a share buyback program on Wednesday, April 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 5.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, May 3rd. Synchrony Financial's dividend payout ratio (DPR) is currently 14.35%.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 6,179 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares of the company's stock, valued at $6,534,503.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares of the company's stock, valued at $552,995.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis Howse sold 6,179 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the sale, the insider now directly owns 152,604 shares of the company's stock, valued at $6,534,503.28. The disclosure for this sale can be found here. Insiders have sold a total of 148,158 shares of company stock valued at $6,106,106 over the last ninety days. Corporate insiders own 0.65% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wolfe Research raised shares of Synchrony Financial from an "underperform" rating to an "outperform" rating and raised their price objective for the stock from $36.00 to $50.00 in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Synchrony Financial in a report on Wednesday, January 10th. They issued a "buy" rating and a $56.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Synchrony Financial from $38.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday, April 10th. StockNews.com raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Synchrony Financial from $42.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $42.72.

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.