Swiss National Bank Reduces Stock Position in Synchrony Financial (NYSE:SYF)

Swiss National Bank lessened its position in Synchrony Financial (NYSE:SYF - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,307,743 shares of the financial services provider's stock after selling 70,800 shares during the period. Swiss National Bank owned 0.32% of Synchrony Financial worth $49,943,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SYF. Massmutual Trust Co. FSB ADV lifted its position in shares of Synchrony Financial by 44.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider's stock worth $49,000 after purchasing an additional 390 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Synchrony Financial in the 4th quarter worth about $55,000. Systematic Alpha Investments LLC purchased a new stake in shares of Synchrony Financial in the 3rd quarter worth about $100,000. Private Trust Co. NA lifted its position in shares of Synchrony Financial by 13.4% in the 4th quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider's stock worth $104,000 after purchasing an additional 320 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its position in shares of Synchrony Financial by 87.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,161 shares of the financial services provider's stock worth $127,000 after purchasing an additional 1,940 shares during the period. Institutional investors own 96.48% of the company's stock.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the company's stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total value of $1,420,290.00. Following the completion of the transaction, the insider now directly owns 121,042 shares in the company, valued at $5,446,890. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Brian D. Doubles sold 134,696 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total value of $5,557,556.96. Following the transaction, the insider now owns 660,353 shares of the company's stock, valued at $27,246,164.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Curtis Howse sold 31,562 shares of the business's stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the completion of the transaction, the insider now directly owns 121,042 shares in the company, valued at approximately $5,446,890. The disclosure for this sale can be found here. Insiders sold a total of 172,437 shares of company stock worth $7,242,432 over the last three months. 0.65% of the stock is currently owned by company insiders.

Synchrony Financial Price Performance

Shares of SYF traded down $0.97 during mid-day trading on Tuesday, reaching $45.27. The stock had a trading volume of 4,715,585 shares, compared to its average volume of 4,458,033. The firm has a market cap of $18.18 billion, a price-to-earnings ratio of 6.49, a PEG ratio of 1.12 and a beta of 1.58. Synchrony Financial has a 12 month low of $26.67 and a 12 month high of $46.72. The business has a fifty day moving average of $42.36 and a 200 day moving average of $37.74. 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 posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.19). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same quarter in the previous year, the company earned $1.35 earnings per share. Equities analysts predict that Synchrony Financial will post 5.62 EPS for the current year.

Synchrony Financial declared that its board has approved a stock repurchase program on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 5.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. Synchrony Financial's payout ratio is currently 14.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SYF shares. Morgan Stanley reaffirmed an "underweight" rating and issued a $30.00 target price on shares of Synchrony Financial in a research report on Thursday, February 8th. Keefe, Bruyette & Woods raised shares of Synchrony Financial from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $45.00 to $62.00 in a research report on Thursday, May 2nd. Wolfe Research raised shares of Synchrony Financial from an "underperform" rating to an "outperform" rating and lifted their price target for the company from $36.00 to $50.00 in a research report on Thursday, April 4th. StockNews.com raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Thursday, April 25th. Finally, Barclays lifted their price target on shares of Synchrony Financial from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Synchrony Financial presently has an average rating of "Hold" and a consensus target price of $43.74.

Synchrony Financial Company 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.