Russell Investments Group Ltd. Sells 62,912 Shares of Synchrony Financial (NYSE:SYF)

Russell Investments Group Ltd. lowered its stake in Synchrony Financial (NYSE:SYF) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,106,174 shares of the financial services provider’s stock after selling 62,912 shares during the period. Russell Investments Group Ltd. owned approximately 0.27% of Synchrony Financial worth $42,251,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new position in Synchrony Financial during the 3rd quarter valued at about $35,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after buying an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Synchrony Financial in the fourth quarter worth approximately $55,000. Systematic Alpha Investments LLC bought a new stake in shares of Synchrony Financial during the 3rd quarter worth approximately $100,000. Finally, Private Trust Co. NA boosted its holdings in Synchrony Financial by 13.4% during the 4th quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 320 shares during the period. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Price Performance

Shares of SYF stock opened at $44.70 on Tuesday. The stock’s 50-day moving average is $41.77 and its 200 day moving average is $37.07. Synchrony Financial has a 1-year low of $26.59 and a 1-year high of $45.46. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23. The company has a market cap of $17.95 billion, a P/E ratio of 6.41, a PEG ratio of 1.09 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter in the prior year, the business posted $1.35 earnings per share. Research analysts predict that Synchrony Financial will post 5.63 earnings per share for the current fiscal year.

Synchrony Financial declared that its board has initiated a stock repurchase plan on Wednesday, April 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, May 3rd. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Insider Transactions at Synchrony Financial

In other news, insider David P. Melito sold 7,283 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the sale, the insider now owns 14,183 shares in the company, valued at approximately $552,995.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Curtis Howse sold 6,179 shares of Synchrony Financial stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the sale, the insider now directly owns 152,604 shares in the company, valued at approximately $6,534,503.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the sale, the insider now directly owns 14,183 shares in the company, valued at approximately $552,995.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,158 shares of company stock valued at $6,106,106. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

SYF has been the topic of a number of recent analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Synchrony Financial in a research note on Wednesday, March 6th. Barclays lifted their price objective on shares of Synchrony Financial from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. BMO Capital Markets upped their target price on shares of Synchrony Financial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Synchrony Financial in a research report on Wednesday, January 10th. They set a “buy” rating and a $56.00 target price on the stock. Finally, Stephens increased their price objective on Synchrony Financial from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $42.72.

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.