Oldfield Partners LLP Has $1.29 Million Stake in Synchrony Financial (NYSE:SYF)

Oldfield Partners LLP reduced its holdings in Synchrony Financial (NYSE:SYF) by 16.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,000 shares of the financial services provider’s stock after selling 7,700 shares during the period. Synchrony Financial accounts for about 0.2% of Oldfield Partners LLP’s portfolio, making the stock its 19th largest holding. Oldfield Partners LLP’s holdings in Synchrony Financial were worth $1,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP increased its position in Synchrony Financial by 853.5% in the 1st quarter. First Trust Advisors LP now owns 6,218,641 shares of the financial services provider’s stock valued at $216,471,000 after acquiring an additional 5,566,481 shares during the period. Norges Bank acquired a new position in Synchrony Financial during the fourth quarter worth $151,220,000. AQR Capital Management LLC raised its holdings in shares of Synchrony Financial by 151.8% in the first quarter. AQR Capital Management LLC now owns 4,764,164 shares of the financial services provider’s stock valued at $135,016,000 after purchasing an additional 2,872,160 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Synchrony Financial in the first quarter valued at about $61,172,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Synchrony Financial by 331.0% in the first quarter. Ameriprise Financial Inc. now owns 1,894,499 shares of the financial services provider’s stock valued at $55,092,000 after purchasing an additional 1,454,927 shares during the last quarter. Institutional investors own 94.72% of the company’s stock.

Insider Activity

In other news, insider Brian D. Doubles sold 36,610 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $34.50, for a total transaction of $1,263,045.00. Following the transaction, the insider now owns 565,240 shares in the company, valued at $19,500,780. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider David P. Melito sold 15,015 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $525,525.00. Following the sale, the insider now owns 13,960 shares in the company, valued at $488,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian D. Doubles sold 36,610 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $34.50, for a total value of $1,263,045.00. Following the sale, the insider now owns 565,240 shares in the company, valued at approximately $19,500,780. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SYF. JMP Securities restated a “market outperform” rating and set a $42.00 price objective on shares of Synchrony Financial in a report on Friday, July 14th. Bank of America lifted their target price on shares of Synchrony Financial from $37.00 to $38.00 in a research report on Monday, June 12th. Oppenheimer lowered shares of Synchrony Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 14th. Royal Bank of Canada downgraded shares of Synchrony Financial from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $41.00 to $37.00 in a research note on Tuesday, September 5th. Finally, UBS Group lifted their price target on shares of Synchrony Financial from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Synchrony Financial has a consensus rating of “Hold” and an average target price of $37.00.

Synchrony Financial Trading Up 0.0 %

NYSE:SYF traded up $0.01 during midday trading on Tuesday, hitting $32.15. 580,363 shares of the company traded hands, compared to its average volume of 5,236,945. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.13. The firm’s fifty day moving average is $33.60 and its 200-day moving average is $31.76. Synchrony Financial has a 12-month low of $26.59 and a 12-month high of $40.88. The firm has a market capitalization of $13.44 billion, a P/E ratio of 5.95, a P/E/G ratio of 1.45 and a beta of 1.60.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, July 18th. The financial services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Synchrony Financial had a return on equity of 19.79% and a net margin of 12.90%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the firm posted $1.60 earnings per share. On average, sell-side analysts predict that Synchrony Financial will post 5.05 EPS for the current year.

Synchrony Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Monday, July 31st were paid a $0.25 dividend. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, July 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.11%. Synchrony Financial’s dividend payout ratio (DPR) is presently 18.52%.

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.