DekaBank Deutsche Girozentrale Reduces Position in Synchrony Financial (NYSE:SYF)

DekaBank Deutsche Girozentrale decreased its position in shares of Synchrony Financial (NYSE:SYF) by 66.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 80,782 shares of the financial services provider’s stock after selling 156,582 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Synchrony Financial were worth $2,562,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SYF. Westside Investment Management Inc. raised its stake in Synchrony Financial by 32.1% during the second quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 867 shares during the period. First Quadrant L P CA increased its position in shares of Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 1,328 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Synchrony Financial by 39.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 1,280 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Synchrony Financial by 19.7% in the second quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 880 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Synchrony Financial by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 486 shares in the last quarter. 85.77% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial (NYSE:SYF) traded down $0.05 during trading on Thursday, reaching $37.34. 8,103,359 shares of the company’s stock traded hands, compared to its average volume of 7,059,712. The firm has a market cap of $29,220.00, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.47 and a current ratio of 1.47. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06.

Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. During the same quarter last year, the company earned $0.73 EPS. equities research analysts anticipate that Synchrony Financial will post 2.59 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 6th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, November 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 22.81%.

Several research firms have recently issued reports on SYF. Jefferies Group increased their price objective on shares of Synchrony Financial to $44.00 and gave the stock a “top pick” rating in a research report on Friday, December 1st. BidaskClub raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Zacks Investment Research raised shares of Synchrony Financial from a “strong sell” rating to a “hold” rating in a report on Monday, October 23rd. Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a research note on Tuesday, October 31st. Finally, Morgan Stanley increased their price objective on shares of Synchrony Financial from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $37.14.

In other news, insider David P. Melito sold 1,881 shares of Synchrony Financial stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $38.00, for a total value of $71,478.00. Following the transaction, the insider now directly owns 43,140 shares of the company’s stock, valued at $1,639,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Mothner sold 1,000 shares of Synchrony Financial stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $33.50, for a total transaction of $33,500.00. Following the completion of the transaction, the insider now directly owns 113,578 shares in the company, valued at $3,804,863. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,961 shares of company stock worth $244,508. 0.03% of the stock is currently owned by insiders.

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About Synchrony Financial

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

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

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