Meyer Handelman Co. decreased its stake in Synchrony Financial (NYSE:SYF) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,082 shares of the financial services provider’s stock after selling 1,314 shares during the period. Meyer Handelman Co.’s holdings in Synchrony Financial were worth $1,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Taylor Hoffman Wealth Management purchased a new position in Synchrony Financial during the 4th quarter valued at about $39,000. Dubuque Bank & Trust Co. purchased a new position in Synchrony Financial during the 4th quarter valued at about $43,000. Huntington National Bank increased its holdings in Synchrony Financial by 47.6% during the 4th quarter. Huntington National Bank now owns 1,908 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 615 shares in the last quarter. First Mercantile Trust Co. increased its holdings in Synchrony Financial by 34.6% during the 4th quarter. First Mercantile Trust Co. now owns 4,550 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Ayalon Holdings Ltd. purchased a new position in Synchrony Financial during the 3rd quarter valued at about $140,000. Hedge funds and other institutional investors own 84.28% of the company’s stock.

In other news, insider David P. Melito sold 3,204 shares of Synchrony Financial stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $30.00, for a total transaction of $96,120.00. Following the completion of the sale, the insider now directly owns 40,313 shares in the company, valued at $1,209,390. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David P. Melito sold 3,934 shares of Synchrony Financial stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $30.00, for a total transaction of $118,020.00. Following the sale, the insider now owns 29,486 shares of the company’s stock, valued at $884,580. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

SYF has been the subject of several recent research reports. BMO Capital Markets raised their target price on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 22nd. Oppenheimer upgraded shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Thursday, January 24th. Citigroup dropped their target price on shares of Synchrony Financial from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, November 1st. Stephens downgraded shares of Synchrony Financial from an “equal weight” rating to a “sell” rating and set a $26.00 target price for the company. in a report on Friday, November 2nd. Finally, Zacks Investment Research downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Synchrony Financial currently has an average rating of “Buy” and a consensus target price of $37.71.

Shares of NYSE SYF traded up $0.15 during midday trading on Monday, reaching $30.09. 629,217 shares of the stock were exchanged, compared to its average volume of 9,714,005. The company has a market cap of $21.63 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 0.77 and a beta of 1.27. Synchrony Financial has a 52-week low of $21.77 and a 52-week high of $38.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.41 and a quick ratio of 1.40.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Synchrony Financial had a net margin of 15.45% and a return on equity of 19.41%. During the same period in the previous year, the firm posted $0.70 earnings per share. On average, analysts anticipate that Synchrony Financial will post 4.37 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Monday, February 4th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, February 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.79%. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.46%.

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/synchrony-financial-syf-position-lowered-by-meyer-handelman-co/2813171.html.

About Synchrony Financial

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.

Read More: How to invest in a bear market

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

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.