Prudential Financial Inc. Sells 70,450 Shares of Synchrony Financial (SYF)

Prudential Financial Inc. cut its holdings in Synchrony Financial (NYSE:SYF) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,804,307 shares of the financial services provider’s stock after selling 70,450 shares during the period. Prudential Financial Inc. owned approximately 0.23% of Synchrony Financial worth $56,024,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SYF. Westside Investment Management Inc. increased its position in shares of Synchrony Financial by 32.1% in the second quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 867 shares during the period. First Quadrant L P CA increased its position in shares of Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 1,328 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Synchrony Financial by 39.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 1,280 shares during the period. State of Alaska Department of Revenue increased its position in shares of Synchrony Financial by 19.7% in the second quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 880 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Synchrony Financial by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 486 shares during the period. Hedge funds and other institutional investors own 88.60% of the company’s stock.

Shares of Synchrony Financial (SYF) opened at $32.09 on Friday. The firm has a market cap of $25,097.71, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.38. Synchrony Financial has a fifty-two week low of $26.01 and a fifty-two week high of $38.06.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. During the same quarter in the prior year, the company earned $0.73 earnings per share. equities analysts expect that Synchrony Financial will post 2.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, November 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.90%.

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A number of equities analysts have issued reports on SYF shares. Morgan Stanley cut shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $35.00 to $32.00 in a research report on Friday, September 8th. Bank of America Corporation cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $35.00 to $33.00 in a research report on Friday, October 6th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research report on Thursday, October 12th. BMO Capital Markets restated a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research report on Friday, August 25th. Finally, BidaskClub upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $36.77.

In other Synchrony Financial news, insider Jonathan S. Mothner sold 1,500 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $32.82, for a total value of $49,230.00. Following the sale, the insider now owns 113,934 shares in the company, valued at $3,739,313.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan S. Mothner sold 1,000 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $33.50, for a total transaction of $33,500.00. Following the completion of the sale, the insider now owns 113,578 shares in the company, valued at approximately $3,804,863. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by corporate insiders.

Synchrony Financial Profile

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.

Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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