Synchrony Financial (NYSE:SYF) Shares Sold by Oldfield Partners LLP

Oldfield Partners LLP reduced its holdings in Synchrony Financial (NYSE:SYF) by 16.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 38,000 shares of the financial services provider’s stock after selling 7,700 shares during the quarter. Synchrony Financial comprises approximately 0.2% of Oldfield Partners LLP’s investment portfolio, making the stock its 19th biggest holding. Oldfield Partners LLP’s holdings in Synchrony Financial were worth $1,289,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sciencast Management LP acquired a new position in Synchrony Financial in the second quarter valued at $340,000. BTC Capital Management Inc. grew its position in Synchrony Financial by 1.7% during the second quarter. BTC Capital Management Inc. now owns 105,315 shares of the financial services provider’s stock valued at $3,629,000 after acquiring an additional 1,731 shares during the period. Harbor Capital Advisors Inc. grew its position in Synchrony Financial by 7.0% during the second quarter. Harbor Capital Advisors Inc. now owns 12,383 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 813 shares during the period. Kathmere Capital Management LLC purchased a new stake in Synchrony Financial during the second quarter valued at about $269,000. Finally, Kwmg LLC grew its position in Synchrony Financial by 9.2% during the second quarter. Kwmg LLC now owns 130,018 shares of the financial services provider’s stock valued at $4,410,000 after acquiring an additional 10,970 shares during the period. 94.72% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Up 0.0 %

Shares of NYSE:SYF traded up $0.01 during trading on Tuesday, hitting $32.15. The company’s stock had a trading volume of 580,363 shares, compared to its average volume of 5,236,945. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.20 and a current ratio of 1.20. Synchrony Financial has a fifty-two week low of $26.59 and a fifty-two week high of $40.88. The stock’s 50-day moving average price is $33.60 and its two-hundred day moving average price is $31.76. The company has a market capitalization of $13.44 billion, a PE ratio of 5.95, a PEG ratio of 1.45 and a beta of 1.60.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. Synchrony Financial had a return on equity of 19.79% and a net margin of 12.90%. The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. As a group, sell-side analysts expect that Synchrony Financial will post 5.05 EPS for the current year.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Monday, July 31st were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 28th. This represents a $1.00 annualized dividend and a yield of 3.11%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.23. Synchrony Financial’s dividend payout ratio is presently 18.52%.

Analysts Set New Price Targets

SYF has been the subject of a number of research reports. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. Bank of America boosted their price target on Synchrony Financial from $37.00 to $38.00 in a research report on Monday, June 12th. Oppenheimer downgraded Synchrony Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 14th. UBS Group upped their target price on Synchrony Financial from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 19th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $29.00 target price (up previously from $28.00) on shares of Synchrony Financial in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $37.00.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider David P. Melito sold 15,015 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $525,525.00. Following the sale, the insider now owns 13,960 shares in the company, valued at $488,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider David P. Melito sold 15,015 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $525,525.00. Following the sale, the insider now directly owns 13,960 shares in the company, valued at approximately $488,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian D. Doubles sold 36,610 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $34.50, for a total value of $1,263,045.00. Following the sale, the insider now owns 565,240 shares in the company, valued at $19,500,780. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.