Synchrony Financial $SYF Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in shares of Synchrony Financial (NYSE:SYF) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 521,025 shares of the financial services provider’s stock after selling 17,259 shares during the quarter. Federated Hermes Inc.’s holdings in Synchrony Financial were worth $34,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYF. Zions Bancorporation National Association UT purchased a new position in Synchrony Financial during the first quarter worth about $30,000. True Wealth Design LLC raised its stake in shares of Synchrony Financial by 5,787.5% in the 2nd quarter. True Wealth Design LLC now owns 471 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 463 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 455 shares during the last quarter. MAI Capital Management boosted its position in shares of Synchrony Financial by 36.3% during the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 167 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Synchrony Financial in the 1st quarter valued at approximately $34,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Stock Performance

Shares of SYF opened at $79.84 on Tuesday. The stock has a 50-day simple moving average of $73.79 and a 200-day simple moving average of $70.74. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $80.98. The stock has a market capitalization of $28.76 billion, a PE ratio of 8.72, a PEG ratio of 0.56 and a beta of 1.46.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.64. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the company earned $1.94 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, November 5th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. Synchrony Financial’s payout ratio is presently 13.10%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Darrell Owens sold 2,989 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $74.02, for a total value of $221,245.78. Following the sale, the insider directly owned 16,096 shares in the company, valued at $1,191,425.92. This trade represents a 15.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of Synchrony Financial stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $73.93, for a total value of $591,440.00. Following the sale, the director directly owned 35,769 shares of the company’s stock, valued at $2,644,402.17. This trade represents a 18.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 55,075 shares of company stock worth $4,036,892. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on SYF shares. Wall Street Zen lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Evercore ISI lifted their price objective on Synchrony Financial from $83.00 to $84.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Baird R W downgraded Synchrony Financial from a “strong-buy” rating to a “hold” rating in a report on Friday. Robert W. Baird restated a “neutral” rating and set a $82.00 target price on shares of Synchrony Financial in a report on Friday. Finally, Hsbc Global Res raised Synchrony Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Synchrony Financial 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.