Oppenheimer & Co. Inc. trimmed its holdings in shares of Synchrony Financial (NYSE:SYF) by 29.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,360 shares of the financial services provider’s stock after selling 5,992 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Synchrony Financial were worth $498,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SYF. Geode Capital Management LLC increased its stake in shares of Synchrony Financial by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 10,348,447 shares of the financial services provider’s stock worth $242,414,000 after acquiring an additional 686,204 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Synchrony Financial by 48.5% during the first quarter. Janney Montgomery Scott LLC now owns 17,194 shares of the financial services provider’s stock worth $548,000 after buying an additional 5,615 shares during the period. Parallel Advisors LLC raised its position in Synchrony Financial by 195.0% in the first quarter. Parallel Advisors LLC now owns 1,894 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,252 shares during the period. Gamco Investors INC. ET AL raised its holdings in shares of Synchrony Financial by 23.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 18,268 shares of the financial services provider’s stock valued at $583,000 after buying an additional 3,500 shares during the period. Finally, Cornerstone Advisors Inc. increased its stake in Synchrony Financial by 482.7% during the first quarter. Cornerstone Advisors Inc. now owns 2,016 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 1,670 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider David P. Melito sold 3,204 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $36.00, for a total value of $115,344.00. Following the transaction, the insider now owns 23,567 shares in the company, valued at approximately $848,412. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Margaret M. Keane sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $33.82, for a total value of $4,227,500.00. Following the sale, the insider now directly owns 648,901 shares of the company’s stock, valued at $21,945,831.82. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

SYF has been the topic of several recent analyst reports. BMO Capital Markets set a $43.00 target price on Synchrony Financial and gave the company a “buy” rating in a report on Sunday, July 21st. Nomura lifted their price target on Synchrony Financial from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday. ValuEngine downgraded Synchrony Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Buckingham Research started coverage on Synchrony Financial in a research report on Monday, July 22nd. They set a “buy” rating and a $42.00 price objective for the company. Finally, BTIG Research reiterated a “buy” rating and issued a $42.00 price objective on shares of Synchrony Financial in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Synchrony Financial currently has an average rating of “Buy” and a consensus target price of $38.71.

NYSE:SYF traded down $0.06 during trading hours on Wednesday, reaching $33.74. 830,979 shares of the company’s stock were exchanged, compared to its average volume of 4,428,128. Synchrony Financial has a 1-year low of $21.77 and a 1-year high of $36.87. The company has a quick ratio of 1.25, a current ratio of 1.36 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $22.44 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a 50-day moving average of $33.87 and a 200 day moving average of $33.78.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Synchrony Financial had a net margin of 17.82% and a return on equity of 19.50%. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same period in the previous year, the business posted $0.92 earnings per share. Research analysts forecast that Synchrony Financial will post 4.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a dividend of $0.22 per share. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, August 2nd. This represents a $0.88 annualized dividend and a dividend yield of 2.61%. Synchrony Financial’s dividend payout ratio is 23.53%.

Synchrony Financial Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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

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