Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Synchrony Financial (NYSE:SYF) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 981,460 shares of the financial services provider’s stock after selling 89,500 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.13% of Synchrony Financial worth $37,895,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec grew its stake in Synchrony Financial by 2,777.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,109,742 shares of the financial services provider’s stock valued at $128,144,000 after purchasing an additional 3,966,900 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Synchrony Financial by 108.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,032,094 shares of the financial services provider’s stock valued at $155,677,000 after purchasing an additional 2,096,626 shares in the last quarter. Bank of Montreal Can grew its stake in Synchrony Financial by 30.3% in the fourth quarter. Bank of Montreal Can now owns 5,521,901 shares of the financial services provider’s stock valued at $213,200,000 after purchasing an additional 1,284,298 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Synchrony Financial in the fourth quarter valued at about $35,492,000. Finally, Deutsche Bank AG grew its stake in Synchrony Financial by 32.7% in the fourth quarter. Deutsche Bank AG now owns 3,189,347 shares of the financial services provider’s stock valued at $123,136,000 after purchasing an additional 785,783 shares in the last quarter. 88.65% of the stock is currently owned by hedge funds and other institutional investors.
Synchrony Financial (NYSE SYF) opened at $37.28 on Monday. The stock has a market capitalization of $28,340.89, a price-to-earnings ratio of 14.23, a PEG ratio of 1.44 and a beta of 1.07. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $40.59. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.45 and a quick ratio of 1.45.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.61%. Synchrony Financial’s dividend payout ratio (DPR) is presently 24.90%.
In other news, insider Thomas M. Quindlen sold 10,712 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $36.73, for a total transaction of $393,451.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Margaret M. Keane sold 13,138 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $36.70, for a total transaction of $482,164.60. Following the transaction, the insider now directly owns 440,169 shares of the company’s stock, valued at $16,154,202.30. The disclosure for this sale can be found here. Insiders sold a total of 25,850 shares of company stock worth $955,616 in the last 90 days. 0.03% of the stock is currently owned by company insiders.
A number of research analysts have commented on SYF shares. Barclays set a $53.00 target price on Synchrony Financial and gave the company a “buy” rating in a research note on Monday, January 22nd. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Wednesday, January 31st. Jefferies Group reiterated a “buy” rating and set a $44.00 price target on shares of Synchrony Financial in a research note on Tuesday, December 26th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Finally, BTIG Research reiterated a “buy” rating and set a $44.00 price target on shares of Synchrony Financial in a research note on Sunday, December 17th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $38.11.
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About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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