Teacher Retirement System of Texas Sells 66,695 Shares of Synchrony Financial (NYSE:SYF)

Teacher Retirement System of Texas lowered its holdings in shares of Synchrony Financial (NYSE:SYF) by 6.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 901,004 shares of the financial services provider’s stock after selling 66,695 shares during the quarter. Teacher Retirement System of Texas owned 0.14% of Synchrony Financial worth $31,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Synchrony Financial by 1.9% in the 1st quarter. FMR LLC now owns 33,683,582 shares of the financial services provider’s stock worth $1,074,506,000 after acquiring an additional 619,258 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Synchrony Financial by 2.4% in the 1st quarter. Janus Henderson Group PLC now owns 19,243,280 shares of the financial services provider’s stock worth $613,859,000 after acquiring an additional 452,123 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Synchrony Financial by 65.2% in the 1st quarter. AQR Capital Management LLC now owns 10,848,426 shares of the financial services provider’s stock worth $346,065,000 after acquiring an additional 4,281,422 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Synchrony Financial by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 10,348,447 shares of the financial services provider’s stock worth $242,414,000 after acquiring an additional 686,204 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Synchrony Financial by 5.1% in the 1st quarter. Northern Trust Corp now owns 7,670,887 shares of the financial services provider’s stock worth $244,702,000 after acquiring an additional 372,055 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

SYF stock traded down $0.22 during trading on Thursday, hitting $32.82. The company had a trading volume of 62,860 shares, compared to its average volume of 4,495,914. The firm has a market capitalization of $21.97 billion, a P/E ratio of 8.79, a PEG ratio of 0.77 and a beta of 1.19. Synchrony Financial has a 52-week low of $21.77 and a 52-week high of $36.87. The company has a 50 day simple moving average of $35.19 and a 200-day simple moving average of $33.61. The company has a quick ratio of 1.25, a current ratio of 1.36 and a debt-to-equity ratio of 1.44.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.19 billion. Synchrony Financial had a net margin of 17.82% and a return on equity of 19.50%. During the same quarter last year, the firm posted $0.92 EPS. Sell-side analysts forecast that Synchrony Financial will post 4.21 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a dividend of $0.22 per share. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 2.68%. Synchrony Financial’s dividend payout ratio (DPR) is 23.53%.

Several equities research analysts have recently issued reports on SYF shares. Buckingham Research started coverage on shares of Synchrony Financial in a report on Monday, July 22nd. They issued a “buy” rating and a $42.00 target price for the company. ValuEngine downgraded shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. BMO Capital Markets set a $43.00 price target on shares of Synchrony Financial and gave the stock a “buy” rating in a research note on Sunday, July 21st. BTIG Research reaffirmed a “buy” rating and issued a $42.00 price target on shares of Synchrony Financial in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 price target on shares of Synchrony Financial in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. Synchrony Financial has an average rating of “Buy” and a consensus target price of $38.43.

In other Synchrony Financial news, insider Margaret M. Keane sold 125,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $33.82, for a total transaction of $4,227,500.00. Following the transaction, the insider now owns 648,901 shares of the company’s stock, valued at approximately $21,945,831.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David P. Melito sold 3,204 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $115,344.00. Following the transaction, the insider now directly owns 23,567 shares in the company, valued at approximately $848,412. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

About Synchrony Financial

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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