Oppenheimer & Co. Inc. Sells 389 Shares of Synchrony Financial (NYSE:SYF)

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Oppenheimer & Co. Inc. cut its stake in Synchrony Financial (NYSE:SYF) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,971 shares of the financial services provider’s stock after selling 389 shares during the period. Oppenheimer & Co. Inc.’s holdings in Synchrony Financial were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYF. WINTON GROUP Ltd grew its stake in shares of Synchrony Financial by 944.8% during the 2nd quarter. WINTON GROUP Ltd now owns 660,994 shares of the financial services provider’s stock valued at $22,917,000 after buying an additional 597,726 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Synchrony Financial by 2.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 68,199 shares of the financial services provider’s stock valued at $2,364,000 after buying an additional 1,602 shares during the period. Campbell & CO Investment Adviser LLC grew its stake in shares of Synchrony Financial by 47.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 21,711 shares of the financial services provider’s stock valued at $753,000 after buying an additional 6,967 shares during the period. Moon Capital Management LLC grew its stake in shares of Synchrony Financial by 6.5% during the 2nd quarter. Moon Capital Management LLC now owns 112,800 shares of the financial services provider’s stock valued at $3,911,000 after buying an additional 6,914 shares during the period. Finally, First Citizens Bank & Trust Co. grew its stake in shares of Synchrony Financial by 10.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 45,173 shares of the financial services provider’s stock valued at $1,566,000 after buying an additional 4,426 shares during the period. 88.76% of the stock is owned by institutional investors.

Shares of Synchrony Financial stock opened at $36.94 on Friday. The company has a fifty day moving average price of $34.24 and a 200 day moving average price of $34.30. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 1.35. Synchrony Financial has a twelve month low of $21.77 and a twelve month high of $37.33. The stock has a market cap of $23.88 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Synchrony Financial had a net margin of 19.54% and a return on equity of 20.05%. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the company earned $0.91 EPS. Analysts forecast that Synchrony Financial will post 4.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a yield of 2.38%. Synchrony Financial’s dividend payout ratio (DPR) is 23.53%.

Several brokerages have recently issued reports on SYF. ValuEngine cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Oppenheimer set a $39.00 price objective on shares of Synchrony Financial and gave the company a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets set a $43.00 price objective on shares of Synchrony Financial and gave the company a “buy” rating in a research note on Sunday, July 21st. BTIG Research reissued a “buy” rating and set a $42.00 price objective on shares of Synchrony Financial in a research note on Monday, July 22nd. Finally, Buckingham Research began coverage on shares of Synchrony Financial in a research note on Monday, July 22nd. They set a “buy” rating and a $42.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Synchrony Financial currently has an average rating of “Buy” and an average price target of $38.92.

In related news, Director Will W. Graylin sold 7,500 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $33.71, for a total transaction of $252,825.00. Following the completion of the sale, the director now directly owns 76,662 shares of the company’s stock, valued at approximately $2,584,276.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Synchrony Financial Company Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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

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