Synchrony Financial (NYSE:SYF) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Synchrony Financial (NYSE:SYF) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,194,660 shares of the financial services provider’s stock after selling 177,410 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.08% of Synchrony Financial worth $209,230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Graypoint LLC increased its stake in Synchrony Financial by 4.0% during the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 181 shares in the last quarter. Empirical Finance LLC increased its position in shares of Synchrony Financial by 1.3% in the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 204 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Synchrony Financial by 1.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock worth $997,000 after acquiring an additional 227 shares during the last quarter. Wedmont Private Capital lifted its position in Synchrony Financial by 3.3% during the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 242 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Synchrony Financial by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock valued at $2,465,000 after purchasing an additional 251 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 sale, the insider now owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Synchrony Financial Stock Performance

SYF opened at $67.52 on Friday. The firm’s fifty day simple moving average is $57.60 and its two-hundred day simple moving average is $50.51. Synchrony Financial has a 52-week low of $31.26 and a 52-week high of $68.69. The company has a market cap of $26.29 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 0.93 and a beta of 1.59. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating 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 firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the company posted $1.48 EPS. Synchrony Financial’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

Analysts Set New Price Targets

SYF has been the subject of several research analyst reports. Jefferies Financial Group raised their price objective on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on shares of Synchrony Financial from $64.00 to $72.50 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company increased their price objective on shares of Synchrony Financial from $53.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 17th. Finally, Compass Point increased their price target on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.43.

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.