Synchrony Financial $SYF Stock Sold by Heritage Investors Management Corp

Heritage Investors Management Corp reduced its position in shares of Synchrony Financial (NYSE:SYF) by 7.9% in the third quarter, Holdings Channel reports. The firm owned 359,205 shares of the financial services provider’s stock after selling 30,874 shares during the quarter. Heritage Investors Management Corp’s holdings in Synchrony Financial were worth $25,493,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Synchrony Financial by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 883,231 shares of the financial services provider’s stock valued at $62,683,000 after acquiring an additional 16,273 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Synchrony Financial in the 3rd quarter valued at approximately $6,374,000. Aviance Capital Partners LLC raised its holdings in Synchrony Financial by 3.3% during the 3rd quarter. Aviance Capital Partners LLC now owns 20,534 shares of the financial services provider’s stock valued at $1,457,000 after buying an additional 650 shares during the period. Profund Advisors LLC raised its holdings in Synchrony Financial by 7.4% during the 3rd quarter. Profund Advisors LLC now owns 3,031 shares of the financial services provider’s stock valued at $215,000 after buying an additional 209 shares during the period. Finally, Vise Technologies Inc. raised its holdings in Synchrony Financial by 8.6% during the 3rd quarter. Vise Technologies Inc. now owns 27,888 shares of the financial services provider’s stock valued at $1,979,000 after buying an additional 2,214 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SYF shares. Wolfe Research raised their target price on shares of Synchrony Financial from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. lifted their price objective on shares of Synchrony Financial from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Evercore cut shares of Synchrony Financial from an “outperform” rating to a “hold” rating and set a $78.00 price objective for the company. in a research report on Wednesday, October 21st. HSBC upped their target price on shares of Synchrony Financial from $93.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Synchrony Financial in a report on Tuesday, October 20th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus target price of $87.83.

Synchrony Financial Stock Up 0.0%

Shares of SYF stock opened at $75.36 on Monday. Synchrony Financial has a fifty-two week low of $63.08 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $23.47 billion, a PE ratio of 7.87, a P/E/G ratio of 0.93 and a beta of 1.35. The stock’s 50-day simple moving average is $75.03 and its 200-day simple moving average is $73.64.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, October 20th. The financial services provider reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.26. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.81 billion. Synchrony Financial had a return on equity of 22.26% and a net margin of 14.59%. During the same quarter in the prior year, the business earned $2.86 earnings per share. Equities analysts expect that Synchrony Financial will post 9.60 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 5th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, November 5th. Synchrony Financial’s dividend payout ratio is presently 14.20%.

Synchrony Financial Company Profile

Synchrony Financial (NYSE: SYF) is a consumer financial services company that provides private-label credit cards, co-branded credit cards and promotional financing programs. Its financing products are offered through retailers, manufacturers, healthcare providers and other businesses, helping consumers pay for purchases over time.

The company serves a range of industries, including digital commerce, home improvement, furniture, automotive, healthcare, jewelry, apparel, electronics and specialty retail.