Meiji Yasuda Life Insurance Co Sells 7,433 Shares of Synchrony Financial (NYSE:SYF)

Meiji Yasuda Life Insurance Co trimmed its holdings in Synchrony Financial (NYSE:SYF) by 16.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 38,256 shares of the financial services provider’s stock after selling 7,433 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Synchrony Financial were worth $1,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilsey Asset Management Inc. lifted its holdings in shares of Synchrony Financial by 9.1% in the 1st quarter. Wilsey Asset Management Inc. now owns 417,539 shares of the financial services provider’s stock worth $13,392,000 after acquiring an additional 34,936 shares during the last quarter. Kentucky Retirement Systems bought a new stake in shares of Synchrony Financial in the 4th quarter worth approximately $675,000. Norges Bank bought a new stake in shares of Synchrony Financial in the 4th quarter worth approximately $168,722,000. Piedmont Investment Advisors Inc. lifted its holdings in shares of Synchrony Financial by 0.6% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 113,612 shares of the financial services provider’s stock worth $3,624,000 after acquiring an additional 623 shares during the last quarter. Finally, Kinneret Advisory LLC bought a new stake in shares of Synchrony Financial in the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Shares of NYSE SYF traded down $0.23 during mid-day trading on Wednesday, hitting $33.82. The stock had a trading volume of 82,136 shares, compared to its average volume of 6,641,663. The company has a quick ratio of 1.27, a current ratio of 1.39 and a debt-to-equity ratio of 1.49. Synchrony Financial has a 1 year low of $21.77 and a 1 year high of $35.56. The company has a market cap of $23.41 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 1.03 and a beta of 1.23.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.12. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.29 billion. Synchrony Financial had a net margin of 17.52% and a return on equity of 19.79%. During the same period in the previous year, the firm earned $0.83 EPS. Equities research analysts anticipate that Synchrony Financial will post 4.28 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, May 3rd. Synchrony Financial’s payout ratio is currently 22.46%.

Several research analysts recently commented on SYF shares. Goldman Sachs Group raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Thursday, February 14th. Zacks Investment Research downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Wednesday, March 13th. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. Finally, Morgan Stanley lifted their target price on shares of Synchrony Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $37.47.

In other Synchrony Financial news, insider David P. Melito sold 6,014 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $34.25, for a total transaction of $205,979.50. Following the transaction, the insider now directly owns 29,476 shares of the company’s stock, valued at approximately $1,009,553. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David P. Melito sold 3,204 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $34.00, for a total transaction of $108,936.00. Following the transaction, the insider now directly owns 29,476 shares in the company, valued at $1,002,184. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

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About Synchrony Financial

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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