Sumitomo Mitsui Trust Holdings Inc. Sells 208,321 Shares of Synchrony Financial (NYSE:SYF)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of Synchrony Financial (NYSE:SYF) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,745,036 shares of the financial services provider’s stock after selling 208,321 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Synchrony Financial were worth $95,170,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Boston Advisors LLC raised its holdings in Synchrony Financial by 2.4% in the first quarter. Boston Advisors LLC now owns 13,954 shares of the financial services provider’s stock worth $445,000 after buying an additional 325 shares during the last quarter. FDx Advisors Inc. raised its holdings in Synchrony Financial by 4.5% in the second quarter. FDx Advisors Inc. now owns 7,503 shares of the financial services provider’s stock worth $260,000 after buying an additional 325 shares during the last quarter. Grove Bank & Trust raised its holdings in Synchrony Financial by 5.4% in the second quarter. Grove Bank & Trust now owns 7,619 shares of the financial services provider’s stock worth $264,000 after buying an additional 390 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Synchrony Financial by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 69,766 shares of the financial services provider’s stock worth $2,419,000 after buying an additional 406 shares during the last quarter. Finally, Regentatlantic Capital LLC raised its holdings in Synchrony Financial by 0.8% in the second quarter. Regentatlantic Capital LLC now owns 59,903 shares of the financial services provider’s stock worth $2,077,000 after buying an additional 458 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

In other Synchrony Financial news, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $115,344.00. Following the completion of the sale, the insider now directly owns 23,567 shares of the company’s stock, valued at $848,412. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Margaret M. Keane sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $33.82, for a total transaction of $4,227,500.00. Following the sale, the insider now directly owns 648,901 shares of the company’s stock, valued at $21,945,831.82. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on SYF shares. BTIG Research reissued a “buy” rating and set a $42.00 price objective on shares of Synchrony Financial in a report on Monday, July 22nd. ValuEngine cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Nomura boosted their price objective on shares of Synchrony Financial from $35.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price objective on shares of Synchrony Financial in a report on Friday, May 3rd. Finally, BMO Capital Markets set a $43.00 price objective on shares of Synchrony Financial and gave the company a “buy” rating in a report on Sunday, July 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Synchrony Financial presently has a consensus rating of “Buy” and an average price target of $38.43.

Shares of SYF traded up $0.25 during mid-day trading on Friday, hitting $35.26. 3,628,223 shares of the company traded hands, compared to its average volume of 4,258,135. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.25 and a current ratio of 1.36. The business has a 50-day moving average price of $35.36. Synchrony Financial has a 1 year low of $21.77 and a 1 year high of $36.87. The company has a market cap of $22.83 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.79 and a beta of 1.19.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, July 19th. The financial services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.01. Synchrony Financial had a net margin of 17.82% and a return on equity of 19.50%. The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the prior year, the company earned $0.92 earnings per share. Equities analysts expect that Synchrony Financial will post 4.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.22 per share. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, August 2nd. Synchrony Financial’s dividend payout ratio is currently 23.53%.

Synchrony Financial Company 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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