KBC Group NV Sells 419,660 Shares of Synchrony Financial (NYSE:SYF)

KBC Group NV lessened its stake in shares of Synchrony Financial (NYSE:SYF) by 24.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,303,349 shares of the financial services provider’s stock after selling 419,660 shares during the quarter. KBC Group NV’s holdings in Synchrony Financial were worth $65,011,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SYF. Headlands Technologies LLC bought a new stake in Synchrony Financial during the first quarter worth approximately $28,000. Altshuler Shaham Ltd bought a new stake in shares of Synchrony Financial during the 2nd quarter worth $31,000. International Assets Investment Management LLC acquired a new position in Synchrony Financial in the 2nd quarter valued at $33,000. WR Wealth Planners LLC lifted its position in Synchrony Financial by 83.6% during the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 326 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Synchrony Financial during the second quarter valued at about $39,000. 96.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. BTIG Research cut Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. The Goldman Sachs Group raised their price objective on shares of Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, August 9th. Royal Bank of Canada increased their price target on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a report on Thursday, October 17th. Finally, Evercore ISI boosted their price objective on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $56.60.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $65.13 on Thursday. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59. The business’s fifty day moving average price is $53.03 and its two-hundred day moving average price is $48.67. Synchrony Financial has a fifty-two week low of $28.84 and a fifty-two week high of $67.76. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS. As a group, analysts predict that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. Synchrony Financial’s dividend payout ratio is 13.05%.

Insiders Place Their Bets

In related news, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the transaction, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the transaction, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Synchrony Financial 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.