Synchrony Financial (NYSE:SYF) Stock Position Reduced by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of Synchrony Financial (NYSE:SYF) by 7.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 750,318 shares of the financial services provider’s stock after selling 61,869 shares during the period. California Public Employees Retirement System owned about 0.18% of Synchrony Financial worth $28,655,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Private Trust Co. NA grew its position in Synchrony Financial by 13.4% in the fourth quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 320 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Synchrony Financial by 3.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,886 shares of the financial services provider’s stock worth $302,000 after buying an additional 371 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of 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 buying an additional 390 shares during the last quarter. Advisor Partners II LLC raised its stake in Synchrony Financial by 3.3% during the 3rd quarter. Advisor Partners II LLC now owns 15,864 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 507 shares during the last quarter. Finally, DGS Capital Management LLC raised its stake in Synchrony Financial by 3.3% during the 4th quarter. DGS Capital Management LLC now owns 16,368 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 516 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYF. Deutsche Bank Aktiengesellschaft began coverage on shares of Synchrony Financial in a research note on Wednesday, January 10th. They set a “buy” rating and a $56.00 target price for the company. Evercore ISI increased their price objective on shares of Synchrony Financial from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Stephens increased their price objective on shares of Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Morgan Stanley reaffirmed an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a report on Thursday, February 8th. Finally, StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Synchrony Financial has an average rating of “Hold” and an average target price of $42.72.

Insiders Place Their Bets

In other news, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the transaction, the insider now directly owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the transaction, the insider now directly owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian D. Doubles sold 134,696 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now directly owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,158 shares of company stock worth $6,106,106. Company insiders own 0.65% of the company’s stock.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $44.67 on Friday. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 6.41, a P/E/G ratio of 1.10 and a beta of 1.61. The firm’s 50 day simple moving average is $41.67 and its 200 day simple moving average is $36.91. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.22. Synchrony Financial has a fifty-two week low of $26.59 and a fifty-two week high of $45.46.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.19). The company 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 quarter last year, the business posted $1.35 earnings per share. As a group, sell-side analysts forecast that Synchrony Financial will post 5.63 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 2.24%. Synchrony Financial’s dividend payout ratio (DPR) is currently 14.35%.

Synchrony Financial declared that its Board of Directors has authorized a stock 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 purchase up to 5.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

About Synchrony Financial

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.