Synchrony Financial (SYF) Position Reduced by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its holdings in Synchrony Financial (NYSE:SYF) by 14.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,570 shares of the financial services provider’s stock after selling 21,541 shares during the quarter. CIBC Asset Management Inc’s holdings in Synchrony Financial were worth $3,996,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Richard Bernstein Advisors LLC increased its holdings in Synchrony Financial by 51.0% in the second quarter. Richard Bernstein Advisors LLC now owns 16,076 shares of the financial services provider’s stock valued at $537,000 after buying an additional 5,432 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Synchrony Financial by 696.6% in the third quarter. Assenagon Asset Management S.A. now owns 403,085 shares of the financial services provider’s stock valued at $12,528,000 after buying an additional 352,487 shares during the last quarter. ING Groep NV purchased a new position in Synchrony Financial in the second quarter valued at $2,536,000. AMP Capital Investors Ltd increased its holdings in Synchrony Financial by 22.7% in the second quarter. AMP Capital Investors Ltd now owns 672,425 shares of the financial services provider’s stock valued at $22,446,000 after buying an additional 124,621 shares during the last quarter. Finally, Stevens Capital Management LP increased its holdings in Synchrony Financial by 242.4% in the second quarter. Stevens Capital Management LP now owns 662,402 shares of the financial services provider’s stock valued at $22,111,000 after buying an additional 468,967 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently commented on SYF shares. Stephens lowered Synchrony Financial from an “equal weight” rating to a “sell” rating and set a $26.00 target price on the stock. in a report on Friday, November 2nd. Bank of America lowered Synchrony Financial from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a report on Wednesday, September 26th. Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a report on Monday, August 6th. Edward Jones lowered Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, July 27th. Finally, ValuEngine lowered Synchrony Financial from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $37.06.

Shares of SYF stock opened at $27.48 on Friday. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 0.74 and a beta of 1.05. Synchrony Financial has a 1 year low of $26.13 and a 1 year high of $40.59. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.40 and a current ratio of 1.40.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, October 19th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. Synchrony Financial had a return on equity of 17.90% and a net margin of 13.70%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the company posted $0.70 earnings per share. Analysts predict that Synchrony Financial will post 3.5 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $0.84 annualized dividend and a dividend yield of 3.06%. Synchrony Financial’s dividend payout ratio (DPR) is 32.06%.

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Synchrony Financial 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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