Quantbot Technologies LP Cuts Position in Synchrony Financial $SYF

Quantbot Technologies LP reduced its position in Synchrony Financial (NYSE:SYF) by 76.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,673 shares of the financial services provider’s stock after selling 114,008 shares during the period. Quantbot Technologies LP’s holdings in Synchrony Financial were worth $2,381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYF. M&T Bank Corp lifted its position in Synchrony Financial by 4.6% during the second quarter. M&T Bank Corp now owns 19,585 shares of the financial services provider’s stock valued at $1,307,000 after buying an additional 864 shares in the last quarter. Round Hill Asset Management raised its stake in shares of Synchrony Financial by 16.9% in the 2nd quarter. Round Hill Asset Management now owns 76,120 shares of the financial services provider’s stock valued at $5,080,000 after acquiring an additional 11,004 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Synchrony Financial by 8.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 2,464,311 shares of the financial services provider’s stock valued at $164,468,000 after acquiring an additional 194,985 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Synchrony Financial by 8.7% during the 2nd quarter. Schroder Investment Management Group now owns 940,115 shares of the financial services provider’s stock valued at $62,743,000 after acquiring an additional 74,934 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Synchrony Financial by 11.7% during the 2nd quarter. Mackenzie Financial Corp now owns 488,619 shares of the financial services provider’s stock worth $32,610,000 after purchasing an additional 51,274 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Down 0.0%

Shares of NYSE:SYF opened at $80.37 on Friday. The stock has a market capitalization of $28.95 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 0.56 and a beta of 1.46. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $80.65. The company’s fifty day moving average is $73.66 and its two-hundred day moving average is $70.42. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.22 by $0.64. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the business posted $1.94 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial announced that its board has authorized a share buyback program on Wednesday, October 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 3.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, November 5th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. Synchrony Financial’s dividend payout ratio is 13.10%.

Insider Buying and Selling

In related news, insider Curtis Howse sold 12,086 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $74.02, for a total value of $894,605.72. Following the sale, the insider owned 108,271 shares of the company’s stock, valued at approximately $8,014,219.42. This trade represents a 10.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $73.93, for a total value of $591,440.00. Following the transaction, the director owned 35,769 shares of the company’s stock, valued at $2,644,402.17. This represents a 18.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,075 shares of company stock valued at $4,036,892 over the last quarter. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Truist Financial reduced their price objective on Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. JMP Securities lifted their target price on Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. Wall Street Zen cut Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $75.00 price objective (down previously from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. Finally, BTIG Research restated a “buy” rating and set a $100.00 price objective on shares of Synchrony Financial in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.41.

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.