Synchrony Financial $SYF Stake Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in Synchrony Financial (NYSE:SYF) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 376,063 shares of the financial services provider’s stock after selling 25,131 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.12% of Synchrony Financial worth $26,690,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Synchrony Financial during the 3rd quarter worth approximately $26,000. Compass Financial Management LLC acquired a new position in shares of Synchrony Financial in the 2nd quarter valued at $29,000. GK Wealth Management LLC acquired a new position in shares of Synchrony Financial in the 3rd quarter valued at $31,000. Provenance Wealth Advisors LLC purchased a new stake in Synchrony Financial during the third quarter worth $32,000. Finally, Center for Financial Planning Inc. boosted its holdings in Synchrony Financial by 242.9% during the first quarter. Center for Financial Planning Inc. now owns 480 shares of the financial services provider’s stock worth $33,000 after buying an additional 340 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Trading Up 0.2%

Shares of SYF stock opened at $71.88 on Thursday. Synchrony Financial has a 1-year low of $63.08 and a 1-year high of $88.77. The company has a market cap of $22.38 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 0.88 and a beta of 1.40. 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 stock has a 50 day simple moving average of $74.22 and a 200-day simple moving average of $73.49.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.26. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Synchrony Financial had a net margin of 14.59% and a return on equity of 22.26%. During the same quarter last year, the company earned $2.86 EPS. On average, equities research analysts expect that Synchrony Financial will post 9.61 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders 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 dividend on an annualized basis and a yield of 1.9%. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.20%.

Wall Street Analyst Weigh In

Several research firms recently commented on SYF. Jefferies Financial Group restated a “buy” rating and set a $103.00 price target on shares of Synchrony Financial in a research report on Tuesday, October 20th. Evercore downgraded 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. JPMorgan Chase & Co. increased 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. Robert W. Baird increased their target price on shares of Synchrony Financial from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Barclays raised their target price on Synchrony Financial from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.78.

Synchrony Financial Company 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.