Sei Investments Co. decreased its stake in Synchrony Financial (NYSE:SYF) by 0.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 231,019 shares of the financial services provider’s stock after selling 2,099 shares during the period. Sei Investments Co.’s holdings in Synchrony Financial were worth $6,888,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of SYF. Raymond James Trust N.A. boosted its stake in shares of Synchrony Financial by 4.3% in the first quarter. Raymond James Trust N.A. now owns 6,625 shares of the financial services provider’s stock valued at $227,000 after buying an additional 274 shares in the last quarter. Creative Planning boosted its stake in shares of Synchrony Financial by 4.3% in the first quarter. Creative Planning now owns 5,863 shares of the financial services provider’s stock valued at $201,000 after buying an additional 240 shares in the last quarter. Atria Investments LLC acquired a new stake in shares of Synchrony Financial during the first quarter valued at approximately $220,000. Heritage Investors Management Corp boosted its stake in shares of Synchrony Financial by 1.7% in the first quarter. Heritage Investors Management Corp now owns 479,551 shares of the financial services provider’s stock valued at $16,449,000 after buying an additional 7,824 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its stake in shares of Synchrony Financial by 4.5% in the first quarter. Beese Fulmer Investment Management Inc. now owns 75,289 shares of the financial services provider’s stock valued at $2,583,000 after buying an additional 3,244 shares in the last quarter. Institutional investors own 89.63% of the company’s stock.

Synchrony Financial (NYSE:SYF) opened at 29.64 on Tuesday. Synchrony Financial has a 52 week low of $26.01 and a 52 week high of $38.06. The company has a market cap of $23.57 billion, a price-to-earnings ratio of 11.13 and a beta of 1.01. The firm has a 50-day moving average of $29.84 and a 200-day moving average of $31.66.

Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.59 billion. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. During the same quarter in the prior year, the firm posted $0.58 EPS. Equities analysts forecast that Synchrony Financial will post $2.60 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.13. Synchrony Financial’s dividend payout ratio is currently 22.64%.

Synchrony Financial announced that its Board of Directors has approved a stock repurchase program on Thursday, May 18th that authorizes the company to buyback $1.64 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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SYF has been the subject of several analyst reports. Goldman Sachs Group, Inc. (The) cut shares of Synchrony Financial from a “conviction-buy” rating to a “neutral” rating and lowered their price target for the stock from $44.00 to $33.00 in a research report on Friday, April 28th. Stephens cut shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $44.00 to $29.00 in a research report on Monday, May 1st. Deutsche Bank AG lowered their price target on shares of Synchrony Financial from $47.00 to $35.00 and set a “hold” rating for the company in a research report on Monday, May 1st. DA Davidson lowered their price target on shares of Synchrony Financial from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, May 1st. Finally, Jefferies Group LLC lowered their price target on shares of Synchrony Financial from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, May 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Synchrony Financial presently has a consensus rating of “Buy” and an average price target of $37.46.

In other news, Director Paget Leonard Alves bought 2,000 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was acquired at an average price of $30.85 per share, with a total value of $61,700.00. Following the transaction, the director now owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.03% of the company’s stock.

About Synchrony Financial

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

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

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