Crossmark Global Holdings Inc. Sells 1,159 Shares of Synchrony Financial (NYSE:SYF)

Crossmark Global Holdings Inc. lessened its position in Synchrony Financial (NYSE:SYF) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,607 shares of the financial services provider’s stock after selling 1,159 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Synchrony Financial were worth $6,714,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SYF. Kerusso Capital Management LLC lifted its stake in Synchrony Financial by 6.4% in the third quarter. Kerusso Capital Management LLC now owns 78,002 shares of the financial services provider’s stock worth $3,891,000 after purchasing an additional 4,713 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Synchrony Financial by 2.2% in the third quarter. Assetmark Inc. now owns 1,319,623 shares of the financial services provider’s stock worth $65,823,000 after buying an additional 28,020 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Synchrony Financial by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 35,893 shares of the financial services provider’s stock worth $1,790,000 after acquiring an additional 3,333 shares during the last quarter. SpiderRock Advisors LLC boosted its holdings in Synchrony Financial by 45.6% during the 3rd quarter. SpiderRock Advisors LLC now owns 14,103 shares of the financial services provider’s stock valued at $703,000 after acquiring an additional 4,420 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in Synchrony Financial in the 3rd quarter valued at $2,465,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

NYSE:SYF opened at $63.79 on Monday. The company has a 50 day moving average price of $52.41 and a 200-day moving average price of $48.35. Synchrony Financial has a 1-year low of $28.84 and a 1-year high of $67.76. The firm has a market cap of $24.84 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 1.24 and a beta of 1.59. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Synchrony Financial will post 6.42 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.57%. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SYF shares. Royal Bank of Canada lifted their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 17th. Robert W. Baird set a $62.00 price objective on shares of Synchrony Financial in a research report on Thursday, October 17th. Morgan Stanley raised their target price on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. BTIG Research downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group increased their price objective on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.60.

Insider Buying and Selling at Synchrony Financial

In other news, insider Curtis Howse sold 21,934 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the transaction, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the transaction, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

About Synchrony Financial

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 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.