Synchrony Financial (NYSE:SYF) Shares Sold by abrdn plc

abrdn plc lowered its stake in shares of Synchrony Financial (NYSE:SYF) by 5.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 469,697 shares of the financial services provider’s stock after selling 25,403 shares during the period. abrdn plc owned about 0.12% of Synchrony Financial worth $30,561,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Graypoint LLC increased its stake in Synchrony Financial by 4.0% during the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock worth $233,000 after buying an additional 181 shares in the last quarter. Wedmont Private Capital lifted its stake in Synchrony Financial by 2.6% during the fourth quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 192 shares in the last quarter. Empirical Finance LLC lifted its stake in Synchrony Financial by 1.3% during the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 204 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Synchrony Financial by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,208 shares of the financial services provider’s stock worth $1,314,000 after purchasing an additional 213 shares in the last quarter. Finally, CX Institutional raised its stake in shares of Synchrony Financial by 4.0% in the fourth quarter. CX Institutional now owns 5,755 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $67.85 on Thursday. The business’s 50 day simple moving average is $67.14 and its 200-day simple moving average is $57.74. The firm has a market capitalization of $26.42 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 0.76 and a beta of 1.63. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.25. Synchrony Financial has a 12 month low of $38.03 and a 12 month high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. As a group, equities analysts forecast that Synchrony Financial will post 7.08 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. Synchrony Financial’s dividend payout ratio is currently 11.71%.

Analysts Set New Price Targets

Several analysts have recently issued reports on SYF shares. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research report on Tuesday, January 28th. JMP Securities reiterated a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a research report on Monday, October 14th. Bank of America lifted their target price on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group raised their price target on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average price target of $69.30.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.

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.