Synchrony Financial $SYF Stock: Kestra Private Wealth Services LLC Reduces Stake

Kestra Private Wealth Services LLC lowered its position in Synchrony Financial (NYSE:SYF) by 29.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,092 shares of the financial services provider’s stock after selling 7,512 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Synchrony Financial were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at $2,349,452,000. Bank of America Corp DE purchased a new position in Synchrony Financial in the 2nd quarter worth $1,122,961,000. Dimensional Fund Advisors LP increased its holdings in shares of Synchrony Financial by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,039,753 shares of the financial services provider’s stock worth $410,760,000 after buying an additional 365,353 shares during the period. First Trust Advisors LP boosted its holdings in Synchrony Financial by 5.6% during the 1st quarter. First Trust Advisors LP now owns 5,338,110 shares of the financial services provider’s stock valued at $363,098,000 after acquiring an additional 281,451 shares during the period. Finally, Assetmark Inc. boosted its holdings in Synchrony Financial by 0.9% during the 1st quarter. Assetmark Inc. now owns 4,338,604 shares of the financial services provider’s stock valued at $295,112,000 after acquiring an additional 37,114 shares during the period. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Trading Down 0.3%

SYF traded down $0.26 during midday trading on Friday, reaching $73.81. 4,899,254 shares of the company’s stock traded hands, compared to its average volume of 3,514,403. Synchrony Financial has a 52 week low of $63.08 and a 52 week high of $88.77. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a fifty day moving average of $74.52 and a two-hundred day moving average of $73.56. The stock has a market capitalization of $22.99 billion, a price-to-earnings ratio of 7.71, a P/E/G ratio of 0.95 and a beta of 1.40.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.26. Synchrony Financial had a return on equity of 22.26% and a net margin of 14.59%. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period last year, the company earned $2.86 EPS. On average, equities analysts anticipate that Synchrony Financial will post 9.59 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYF. BMO Capital Markets initiated coverage on Synchrony Financial in a research report on Friday, October 9th. They issued a “market perform” rating and a $81.00 price objective for the company. Robert W. Baird raised their target price on shares of Synchrony Financial from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Synchrony Financial from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. HSBC upped their price target on shares of Synchrony Financial from $93.00 to $97.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Wells Fargo & Company dropped their price target on shares of Synchrony Financial from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.78.

Synchrony Financial Profile

Synchrony Financial is a consumer financial services company that provides credit products and related services through partnerships with retailers, healthcare providers and other businesses. Its offerings include private-label and co-branded credit cards, installment loans and promotional financing options.

The company also provides consumer banking products, including savings accounts and certificates of deposit. Its financing solutions serve customers in areas such as retail, home improvement, automotive, health and wellness, and digital commerce, primarily in the United States.

Synchrony was formerly part of General Electric’s financial services business and became an independent, publicly traded company in 2014.