Asahi Life Asset Management CO. LTD. Trims Stock Position in Synchrony Financial (NYSE:SYF)

Asahi Life Asset Management CO. LTD. trimmed its position in Synchrony Financial (NYSE:SYF) by 62.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,300 shares of the financial services provider’s stock after selling 7,110 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Synchrony Financial were worth $209,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SYF. Harbour Investments Inc. purchased a new position in shares of Synchrony Financial in the 1st quarter worth about $33,000. Capital Analysts LLC purchased a new position in shares of Synchrony Financial in the 2nd quarter worth about $33,000. E Fund Management Co. Ltd. purchased a new position in shares of Synchrony Financial in the 1st quarter worth about $39,000. Berman Capital Advisors LLC raised its holdings in shares of Synchrony Financial by 100.2% in the 1st quarter. Berman Capital Advisors LLC now owns 1,067 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 534 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Synchrony Financial by 147.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 902 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 537 shares during the period. Institutional investors own 92.61% of the company’s stock.

Shares of NYSE:SYF opened at $47.68 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.00. The company has a fifty day simple moving average of $48.42 and a 200 day simple moving average of $45.89. The firm has a market cap of $27.16 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.38 and a beta of 1.80. Synchrony Financial has a 12-month low of $24.20 and a 12-month high of $52.14.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Monday, July 19th. The financial services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.65. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $2.60 billion. Synchrony Financial had a net margin of 21.76% and a return on equity of 27.59%. During the same quarter in the previous year, the firm earned $0.06 earnings per share. As a group, equities research analysts forecast that Synchrony Financial will post 6.36 EPS for the current fiscal year.

Synchrony Financial announced that its board has authorized a stock repurchase plan on Tuesday, May 25th that allows the company to buyback $2.90 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 12th. Investors of record on Monday, August 2nd were paid a $0.22 dividend. The ex-dividend date was Friday, July 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.85%. Synchrony Financial’s dividend payout ratio (DPR) is presently 33.85%.

In other Synchrony Financial news, insider Carol Juel sold 8,708 shares of the business’s stock in a transaction on Monday, June 28th. The shares were sold at an average price of $49.63, for a total transaction of $432,178.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.45% of the stock is currently owned by insiders.

SYF has been the topic of a number of research reports. Morgan Stanley raised their price objective on Synchrony Financial from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. initiated coverage on Synchrony Financial in a report on Friday, July 9th. They set a “neutral” rating and a $51.00 target price on the stock. initiated coverage on Synchrony Financial in a report on Friday, July 9th. They set a “hold” rating and a $51.00 target price on the stock. Barclays raised their target price on Synchrony Financial from $52.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, July 9th. Finally, Credit Suisse Group raised their target price on Synchrony Financial from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, September 10th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $54.19.

Synchrony Financial Company Profile

Synchrony Financial engages in the provision of consumer financial services. It operates through three sales platforms: Retail Card, Payment Solutions, and CareCredit. The Retail Card platform is a provider of private label credit cards, and also provides Dual Cards and small-and medium-sized business credit products.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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