10,331 Synchrony Financial $SYF Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,277 shares of the financial services provider’s stock after selling 10,331 shares during the period. Illinois Municipal Retirement Fund owned 0.10% of Synchrony Financial worth $23,085,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYF. Commonwealth Equity Services LLC increased its holdings in shares of Synchrony Financial by 0.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,881 shares of the financial services provider’s stock valued at $1,553,000 after acquiring an additional 147 shares during the last quarter. Center for Financial Planning Inc. raised its stake in shares of Synchrony Financial by 45.3% in the 3rd quarter. Center for Financial Planning Inc. now owns 494 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 154 shares in the last quarter. WealthTrust Asset Management LLC raised its stake in shares of Synchrony Financial by 0.9% in the 1st quarter. WealthTrust Asset Management LLC now owns 17,452 shares of the financial services provider’s stock valued at $1,187,000 after acquiring an additional 156 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Synchrony Financial by 13.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,526 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 184 shares during the last quarter. Finally, Riversedge Advisors LLC lifted its holdings in Synchrony Financial by 3.8% in the 3rd quarter. Riversedge Advisors LLC now owns 5,022 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 184 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

SYF opened at $71.78 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock’s 50 day moving average price is $74.31 and its two-hundred day moving average price is $73.51. The firm has a market capitalization of $22.35 billion, a P/E ratio of 7.49, a price-to-earnings-growth ratio of 0.91 and a beta of 1.40. Synchrony Financial has a 12-month low of $63.08 and a 12-month high of $88.77.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.26. The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.81 billion. Synchrony Financial had a return on equity of 22.26% and a net margin of 14.59%. During the same period in the previous year, the company earned $2.86 earnings per share. On average, equities analysts forecast that Synchrony Financial will post 9.59 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 5th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, November 5th. Synchrony Financial’s dividend payout ratio is presently 14.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYF. Weiss Ratings raised Synchrony Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. UBS Group reduced their price objective on shares of Synchrony Financial from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, November 2nd. TD Cowen decreased their price objective on shares of Synchrony Financial from $90.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Robert W. Baird raised their target price on shares of Synchrony Financial from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Synchrony Financial in a report on Tuesday, October 20th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.78.

About Synchrony Financial

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.