Synchrony Financial (NYSE:SYF) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in Synchrony Financial (NYSE:SYF) by 15.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,941 shares of the financial services provider’s stock after selling 11,987 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Synchrony Financial were worth $3,289,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Southpoint Capital Advisors LP raised its stake in shares of Synchrony Financial by 37.9% during the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock worth $229,448,000 after buying an additional 1,265,000 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Synchrony Financial by 402.8% during the second quarter. Los Angeles Capital Management LLC now owns 1,520,209 shares of the financial services provider’s stock worth $71,739,000 after purchasing an additional 1,217,872 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Synchrony Financial by 14.6% during the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock worth $264,917,000 after buying an additional 727,649 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Synchrony Financial by 400.2% in the second quarter. Acadian Asset Management LLC now owns 842,539 shares of the financial services provider’s stock valued at $39,751,000 after buying an additional 674,093 shares during the last quarter. Finally, Candriam S.C.A. lifted its stake in shares of Synchrony Financial by 1,043.9% in the second quarter. Candriam S.C.A. now owns 655,173 shares of the financial services provider’s stock worth $30,916,000 after buying an additional 597,900 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synchrony Financial

In other news, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction on Friday, November 1st. The shares were 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 $5,498,831.59. The trade was a 18.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, the insider now owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Synchrony Financial Stock Up 0.1 %

Synchrony Financial stock opened at $67.14 on Wednesday. The stock has a market cap of $26.14 billion, a PE ratio of 8.77, a P/E/G ratio of 0.93 and a beta of 1.63. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s fifty day moving average is $58.33 and its two-hundred day moving average is $50.88. Synchrony Financial has a 1-year low of $33.51 and a 1-year high of $69.00.

Synchrony Financial (NYSE:SYF) last issued its 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. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.48 EPS. On average, sell-side analysts expect that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.49%. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped 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. Deutsche Bank Aktiengesellschaft lifted their price objective on Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays upped their target price on Synchrony Financial from $49.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a research report on Thursday, October 17th. Finally, Morgan Stanley raised their price objective on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen 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 has an average rating of “Moderate Buy” and an average target price of $58.68.

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.