Mn Services Vermogensbeheer B.V. Reduces Stock Holdings in Synchrony Financial (NYSE:SYF)

Mn Services Vermogensbeheer B.V. trimmed its position in Synchrony Financial (NYSE:SYF) by 7.2% during the 1st quarter, HoldingsChannel reports. The firm owned 149,700 shares of the financial services provider’s stock after selling 11,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Synchrony Financial were worth $7,925,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Management One Co. Ltd. raised its stake in shares of Synchrony Financial by 7.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider’s stock worth $11,787,000 after buying an additional 12,492 shares during the period. BTC Capital Management Inc. raised its stake in shares of Synchrony Financial by 25.9% in the first quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider’s stock worth $3,485,000 after buying an additional 13,526 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Synchrony Financial in the fourth quarter worth about $57,000. Merit Financial Group LLC raised its stake in shares of Synchrony Financial by 70.2% in the first quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider’s stock worth $564,000 after buying an additional 4,397 shares during the period. Finally, NEOS Investment Management LLC raised its stake in shares of Synchrony Financial by 31.4% in the fourth quarter. NEOS Investment Management LLC now owns 25,622 shares of the financial services provider’s stock worth $1,665,000 after buying an additional 6,120 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Performance

NYSE SYF opened at $61.27 on Tuesday. The stock has a market capitalization of $23.32 billion, a PE ratio of 7.17, a P/E/G ratio of 0.71 and a beta of 1.44. The business has a 50 day simple moving average of $55.18 and a two-hundred day simple moving average of $59.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. On average, research analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $0.30 per share. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial’s dividend payout ratio (DPR) is currently 16.46%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial raised their price objective on Synchrony Financial from $63.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Evercore ISI decreased their price objective on Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.78.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction on Monday, May 19th. The stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the sale, the insider now directly owns 146,628 shares of the company’s stock, valued at $8,807,943.96. The trade was a 21.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by corporate insiders.

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.