Meyer Handelman Co. decreased its position in Synchrony Financial (NYSE:SYF) by 26.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,265 shares of the financial services provider’s stock after selling 12,817 shares during the period. Meyer Handelman Co.’s holdings in Synchrony Financial were worth $1,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYF. Boston Advisors LLC lifted its stake in shares of Synchrony Financial by 2.4% in the 1st quarter. Boston Advisors LLC now owns 13,954 shares of the financial services provider’s stock worth $445,000 after acquiring an additional 325 shares during the period. FDx Advisors Inc. lifted its stake in Synchrony Financial by 4.5% during the second quarter. FDx Advisors Inc. now owns 7,503 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 325 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Synchrony Financial by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 69,766 shares of the financial services provider’s stock valued at $2,419,000 after purchasing an additional 406 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Synchrony Financial by 21.4% during the first quarter. Global Retirement Partners LLC now owns 2,967 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 524 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Synchrony Financial by 40.3% during the first quarter. Parkside Financial Bank & Trust now owns 2,016 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 579 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Several analysts recently commented on the stock. ValuEngine lowered shares of Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. BTIG Research restated a “buy” rating and issued a $42.00 price target on shares of Synchrony Financial in a research report on Monday, July 22nd. Nomura upped their price target on shares of Synchrony Financial from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Buckingham Research began coverage on shares of Synchrony Financial in a research report on Monday, July 22nd. They issued a “buy” rating and a $42.00 price target for the company. Finally, Morgan Stanley downgraded shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 22nd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.13.

Synchrony Financial stock traded up $0.09 during trading hours on Friday, hitting $36.60. The company had a trading volume of 2,924,410 shares, compared to its average volume of 4,401,527. The firm has a market capitalization of $25.23 billion, a price-to-earnings ratio of 9.79, a P/E/G ratio of 0.82 and a beta of 1.18. 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 company’s fifty day moving average is $34.95. Synchrony Financial has a fifty-two week low of $21.77 and a fifty-two week high of $36.87.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, August 2nd. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.21. Synchrony Financial’s dividend payout ratio is currently 22.46%.

In other Synchrony Financial news, 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 transaction, the insider now owns 648,901 shares in the company, valued at approximately $21,945,831.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $115,344.00. Following the completion of the transaction, the insider now owns 23,567 shares in the company, valued at approximately $848,412. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,218 shares of company stock worth $4,548,824. Company insiders own 0.32% of the company’s stock.

Synchrony Financial Company 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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