Clearbridge LLC Cuts Position in Synchrony Financial (SYF)

Clearbridge LLC reduced its stake in Synchrony Financial (NYSE:SYF) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 339,871 shares of the financial services provider’s stock after selling 2,374 shares during the quarter. Synchrony Financial comprises 2.4% of Clearbridge LLC’s investment portfolio, making the stock its 16th largest position. Clearbridge LLC’s holdings in Synchrony Financial were worth $7,973,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of SYF. Enlightenment Research LLC bought a new stake in Synchrony Financial during the 4th quarter worth about $28,000. JOYN Advisors Inc. lifted its position in Synchrony Financial by 33.7% during the 4th quarter. JOYN Advisors Inc. now owns 1,349 shares of the financial services provider’s stock worth $32,000 after buying an additional 340 shares in the last quarter. Taylor Hoffman Wealth Management bought a new stake in Synchrony Financial during the 4th quarter worth about $39,000. Dubuque Bank & Trust Co. bought a new stake in Synchrony Financial during the 4th quarter worth about $43,000. Finally, Huntington National Bank lifted its position in Synchrony Financial by 47.6% during the 4th quarter. Huntington National Bank now owns 1,908 shares of the financial services provider’s stock worth $45,000 after buying an additional 615 shares in the last quarter. 85.75% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Henry F. Greig sold 50,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.00, for a total value of $1,650,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $30.00, for a total transaction of $96,120.00. Following the completion of the transaction, the insider now owns 40,313 shares in the company, valued at approximately $1,209,390. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,342 shares of company stock worth $1,966,668. 0.07% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on SYF. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Co reaffirmed a “buy” rating on shares of Synchrony Financial in a report on Wednesday. Zacks Investment Research cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Goldman Sachs Group raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Thursday, February 14th. Finally, CIBC raised shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a report on Thursday, January 24th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Synchrony Financial has an average rating of “Buy” and an average target price of $37.43.

Shares of SYF stock opened at $32.84 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $22.86 billion, a PE ratio of 8.78, a PEG ratio of 0.82 and a beta of 1.29. Synchrony Financial has a 52-week low of $21.77 and a 52-week high of $36.32.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.16. Synchrony Financial had a net margin of 15.45% and a return on equity of 19.41%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter in the prior year, the business earned $0.70 EPS. As a group, equities analysts forecast that Synchrony Financial will post 4.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Monday, February 4th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, February 1st. This represents a $0.84 dividend on an annualized basis and a yield of 2.56%. Synchrony Financial’s dividend payout ratio (DPR) is currently 22.46%.

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Synchrony Financial Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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