Douglas Lane & Associates LLC Sells 11,064 Shares of Synchrony Financial (NYSE:SYF)

Douglas Lane & Associates LLC lessened its holdings in shares of Synchrony Financial (NYSE:SYF) by 20.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,405 shares of the financial services provider’s stock after selling 11,064 shares during the period. Douglas Lane & Associates LLC’s holdings in Synchrony Financial were worth $2,115,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC bought a new position in Synchrony Financial in the first quarter valued at approximately $28,000. Altshuler Shaham Ltd acquired a new stake in shares of Synchrony Financial during the second quarter worth $31,000. International Assets Investment Management LLC bought a new stake in Synchrony Financial in the 2nd quarter valued at $33,000. WR Wealth Planners LLC boosted its stake in Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Synchrony Financial during the 2nd quarter worth about $39,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction on 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 transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Friday, August 9th. JMP Securities upped their price target on Synchrony Financial from $49.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Evercore ISI reduced their target price on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating for the company in a report on Monday, October 7th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and an average price target of $52.40.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $53.15 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $21.01 billion, a P/E ratio of 7.38, a P/E/G ratio of 1.21 and a beta of 1.61. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $53.30. The stock has a 50 day moving average of $48.39 and a 200-day moving average of $46.21.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the firm posted $1.32 EPS. As a group, equities research analysts predict that Synchrony Financial will post 5.81 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.89%.

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.