The Texas Permanent School Fund holds a $2.35 million stake in Synchrony Financial (NYSE:SYF)


The Texas Permanent School Fund reduced its holdings in Synchrony Financial (NYSE: SYFGet a rating) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor held 67,613 shares of the financial services provider after selling 7,870 shares during the period. The Texas Permanent School Fund’s holdings in Synchrony Financial were worth $2,354,000 when it was last filed with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently changed their positions in the company. AIA Group Ltd increased its position in Synchrony Financial shares by 71.4% in the first quarter. AIA Group Ltd now owns 4,387 shares of the financial services provider valued at $153,000 after buying an additional 1,827 shares last quarter. CIBC Asset Management Inc. increased its position in Synchrony Financial shares by 26.8% in the first quarter. CIBC Asset Management Inc. now owns 67,293 shares of the financial services provider valued at $2,342,000 after purchasing an additional 14,205 shares last quarter. BTC Capital Management Inc. raised its position in Synchrony Financial by 124.2% in the first quarter. BTC Capital Management Inc. now owns 154,510 shares of the financial services provider valued at $5,380,000 after buying an additional 85,586 shares last quarter. IFM Investors Pty Ltd increased its position in Synchrony Financial by 19.5% during the first quarter. IFM Investors Pty Ltd now owns 86,885 shares of the financial services provider valued at $3,024,000 after buying an additional 14,173 shares last quarter. Finally, Affinity Investment Advisors LLC increased its position in Synchrony Financial by 12.2% during the first quarter. Affinity Investment Advisors LLC now owns 8,091 shares of the financial services provider valued at $282,000 after buying an additional 879 shares last quarter. 98.26% of the shares are currently held by institutional investors and hedge funds.

Performance of Synchrony financial stocks

Shares of Synchrony Financial Action opened at $35.66 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt ratio of 0.96. Synchrony Financial has a 12-month low of $27.22 and a 12-month high of $52.49. The stock has a market capitalization of $17.18 billion, a price/earnings ratio of 5.21, a P/E/G ratio of 0.26 and a beta of 1.57. The company’s fifty-day moving average is $31.54 and its 200-day moving average is $36.05.

Synchrony Financial (NYSE: SYFGet a rating) last released its quarterly earnings data on Monday, July 18. The financial services provider reported earnings per share of $1.60 for the quarter, beating the consensus estimate of $1.47 by $0.13. Synchrony Financial had a net margin of 22.76% and a return on equity of 27.06%. During the same period of the previous year, the company achieved EPS of $2.12. Sell-side analysts expect Synchrony Financial to post an EPS of 5.71 for the current year.

Synchrony Financial increases its dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11. Shareholders of record on Monday August 1 will receive a dividend of $0.23 per share. The ex-dividend date is Friday, July 29. This represents a dividend of $0.92 on an annualized basis and a yield of 2.58%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.22. Synchrony Financial’s dividend payout ratio is 13.43%.

Synchrony Financial announced that its board of directors approved a share buyback plan on Monday, April 18 that allows the company to repurchase $2.80 billion of outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 13.6% of its shares through purchases on the open market. Stock buyback plans are usually a sign that a company’s management believes its stock is undervalued.

Analysts set new price targets

Several research analysts commented on SYF’s actions. Barclays lowered its price target on Synchrony Financial shares from $64.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday July 11. Morgan Stanley lowered its price target on Synchrony Financial shares from $40.00 to $31.00 and set an “equal weight” rating for the company in a Tuesday, July 12 research report. Stephens raised his price target on Synchrony Financial shares from $29.00 to $35.00 and gave the company an “equal weight” rating in a Tuesday, July 19 research report. Credit Suisse Group raised its price target on Synchrony Financial shares from $46.00 to $47.00 and gave the company an “outperform” rating in a Tuesday, July 19 research report. Finally, Wolfe Research downgraded Synchrony Financial shares from a “peer performing” rating to an “underperforming” rating and set a price target of $22.00 for the company. in a research report on Thursday, May 12. One financial analyst has assigned the stock a sell rating, four have assigned a hold rating and twelve have assigned the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average price target of $45.76.

Synchrony Financial Company Profile

(Get a rating)

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 cards, co-branded 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 for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.

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Institutional ownership by quarter for Synchrony Financial (NYSE:SYF)



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