Kentucky Retirement Systems Insurance Trust Fund decreased its position in Synchrony Financial (NYSE:SYF – Free Report) by 8.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,426 shares of the financial services provider’s stock after selling 1,316 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Synchrony Financial were worth $579,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Synchrony Financial by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,300,576 shares of the financial services provider’s stock worth $56,082,000 after purchasing an additional 342,979 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Synchrony Financial by 0.4% in the 1st quarter. Toronto Dominion Bank now owns 236,147 shares of the financial services provider’s stock valued at $10,183,000 after acquiring an additional 1,029 shares during the period. Delap Wealth Advisory LLC purchased a new position in shares of Synchrony Financial in the 1st quarter valued at $301,000. Shell Asset Management Co. grew its stake in Synchrony Financial by 21.4% during the 1st quarter. Shell Asset Management Co. now owns 94,022 shares of the financial services provider’s stock worth $4,054,000 after buying an additional 16,559 shares during the last quarter. Finally, Ossiam grew its stake in Synchrony Financial by 767.0% during the 1st quarter. Ossiam now owns 419,553 shares of the financial services provider’s stock worth $18,091,000 after buying an additional 371,161 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.
Insiders Place Their Bets
In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the sale, the insider now directly owns 121,042 shares of the company’s stock, valued at $5,446,890. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Analysis on SYF
Synchrony Financial Stock Performance
Shares of SYF traded up $0.40 during trading hours on Friday, hitting $50.78. The company had a trading volume of 1,803,892 shares, compared to its average volume of 3,667,733. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $52.67. The firm has a market cap of $20.39 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 1.19 and a beta of 1.63. The business has a fifty day moving average of $46.00 and a 200-day moving average of $42.90. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09.
Synchrony Financial (NYSE:SYF – Get Free Report) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the company earned $1.32 EPS. Equities analysts anticipate that Synchrony Financial will post 5.8 EPS for the current fiscal year.
Synchrony Financial announced that its board has authorized a share repurchase plan on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 5.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Synchrony Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Monday, August 5th. Synchrony Financial’s dividend payout ratio is 14.35%.
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 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.
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