State of New Jersey Common Pension Fund D Decreases Stock Position in Synchrony Financial (NYSE:SYF)

State of New Jersey Common Pension Fund D trimmed its position in shares of Synchrony Financial (NYSE:SYF) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,343 shares of the financial services provider’s stock after selling 1,366 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Synchrony Financial were worth $7,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in Synchrony Financial in the 1st quarter worth about $213,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Synchrony Financial in the first quarter worth approximately $253,000. SG Americas Securities LLC lifted its stake in shares of Synchrony Financial by 10.4% during the 1st quarter. SG Americas Securities LLC now owns 53,031 shares of the financial services provider’s stock worth $2,287,000 after acquiring an additional 4,989 shares during the last quarter. Sei Investments Co. boosted its holdings in Synchrony Financial by 52.6% during the 1st quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock valued at $21,134,000 after acquiring an additional 168,920 shares during the period. Finally, Meeder Advisory Services Inc. grew its position in Synchrony Financial by 4.6% in the 1st quarter. Meeder Advisory Services Inc. now owns 9,403 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 415 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF opened at $65.60 on Tuesday. Synchrony Financial has a 12 month low of $28.84 and a 12 month high of $67.76. The stock has a fifty day moving average price of $52.41 and a 200-day moving average price of $48.37. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm has a market cap of $25.54 billion, a PE ratio of 8.56, a P/E/G ratio of 1.24 and a beta of 1.59.

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, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the company earned $1.48 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts predict that Synchrony Financial will post 6.42 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, August 9th. Evercore ISI raised their target price on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen boosted their price target on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada upped their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Insiders Place Their Bets

In other news, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the transaction, the insider now directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

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.