Synchrony Financial (NYSE:SYF) Shares Sold by Russell Investments Group Ltd.

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

A number of other hedge funds also recently bought and sold shares of SYF. Exchange Traded Concepts LLC acquired a new position in shares of Synchrony Financial during the third quarter worth about $35,000. Massmutual Trust Co. FSB ADV lifted its stake in Synchrony Financial by 44.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Synchrony Financial in the fourth quarter worth approximately $55,000. Systematic Alpha Investments LLC acquired a new position in Synchrony Financial during the 3rd quarter worth approximately $100,000. Finally, Private Trust Co. NA increased its position in shares of Synchrony Financial by 13.4% in the 4th quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 320 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares in the company, valued at $6,534,503.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Curtis Howse sold 6,179 shares of Synchrony Financial stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the transaction, the insider now directly owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now owns 14,183 shares in the company, valued at $552,995.17. The disclosure for this sale can be found here. Insiders sold 148,158 shares of company stock worth $6,106,106 over the last 90 days. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

SYF has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. JMP Securities upped their price objective on Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Friday, January 12th. Wolfe Research raised Synchrony Financial from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $36.00 to $50.00 in a research report on Thursday, April 4th. Stephens upped their price target on Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $30.00 price target on shares of Synchrony Financial in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.72.

Synchrony Financial Stock Performance

NYSE SYF opened at $44.70 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average is $41.77 and its two-hundred day moving average is $37.07. The stock has a market capitalization of $17.95 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 1.09 and a beta of 1.61. Synchrony Financial has a 12-month low of $26.59 and a 12-month high of $45.46.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data 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 business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same period in the prior year, the company earned $1.35 EPS. Research analysts expect that Synchrony Financial will post 5.63 EPS for the current year.

Synchrony Financial declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 24th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 5.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Synchrony Financial Announces Dividend

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

Synchrony Financial Company 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 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.