Vident Investment Advisory LLC Sells 11,735 Shares of Synchrony Financial (NYSE:SYF)

Vident Investment Advisory LLC cut its holdings in shares of Synchrony Financial (NYSE:SYF) by 15.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,581 shares of the financial services provider’s stock after selling 11,735 shares during the quarter. Vident Investment Advisory LLC’s holdings in Synchrony Financial were worth $1,387,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SYF. International Assets Investment Management LLC lifted its holdings in Synchrony Financial by 1.2% in the 2nd quarter. International Assets Investment Management LLC now owns 50,946 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 609 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Synchrony Financial by 4.0% in the second quarter. Janney Montgomery Scott LLC now owns 16,794 shares of the financial services provider’s stock worth $372,000 after buying an additional 641 shares in the last quarter. Signaturefd LLC boosted its position in shares of Synchrony Financial by 20.1% during the first quarter. Signaturefd LLC now owns 4,196 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 701 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Synchrony Financial by 1.0% during the first quarter. Crossmark Global Holdings Inc. now owns 71,223 shares of the financial services provider’s stock valued at $1,146,000 after acquiring an additional 728 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in Synchrony Financial by 0.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 84,564 shares of the financial services provider’s stock valued at $1,361,000 after acquiring an additional 777 shares during the last quarter. Institutional investors and hedge funds own 87.85% of the company’s stock.

SYF stock opened at $22.13 on Friday. Synchrony Financial has a 12 month low of $12.15 and a 12 month high of $38.18. The firm’s 50-day moving average is $22.92 and its 200 day moving average is $23.66. The company has a market capitalization of $12.92 billion, a PE ratio of 6.79, a P/E/G ratio of 2.79 and a beta of 1.67. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The business had revenue of $950.00 million for the quarter, compared to analyst estimates of $2.90 billion. Synchrony Financial had a net margin of 11.79% and a return on equity of 14.73%. The company’s quarterly revenue was down 54.7% compared to the same quarter last year. During the same period last year, the company posted $0.97 earnings per share. Sell-side analysts forecast that Synchrony Financial will post 1.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.88 annualized dividend and a yield of 3.98%. Synchrony Financial’s payout ratio is currently 20.51%.

A number of research analysts have recently weighed in on the company. ValuEngine upgraded Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. JMP Securities raised their price target on Synchrony Financial from $21.00 to $27.50 and gave the company a “market outperform” rating in a report on Wednesday, June 17th. Royal Bank of Canada reaffirmed a “buy” rating and set a $20.00 price objective on shares of Synchrony Financial in a report on Wednesday, April 22nd. UBS Group raised their target price on shares of Synchrony Financial from $18.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Finally, Stephens upped their price target on shares of Synchrony Financial from $25.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $24.59.

In other Synchrony Financial news, Director P.W. Parker purchased 10,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average price of $23.32 per share, with a total value of $233,200.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $233,200. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Will W. Graylin sold 7,500 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $21.77, for a total transaction of $163,275.00. Following the transaction, the director now owns 58,942 shares in the company, valued at $1,283,167.34. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

Synchrony Financial Company 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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