RWC Asset Management LLP Sells 1,660 Shares of Synchrony Financial (NYSE:SYF)

RWC Asset Management LLP lowered its holdings in Synchrony Financial (NYSE:SYF) by 16.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,529 shares of the financial services provider’s stock after selling 1,660 shares during the quarter. RWC Asset Management LLP’s holdings in Synchrony Financial were worth $326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new stake in Synchrony Financial in the third quarter valued at about $35,000. Massmutual Trust Co. FSB ADV grew its stake in Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after buying an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Synchrony Financial during the fourth quarter worth about $55,000. Systematic Alpha Investments LLC bought a new stake in Synchrony Financial during the third quarter worth about $100,000. Finally, Private Trust Co. NA grew its stake in Synchrony Financial by 13.4% during the fourth quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock worth $104,000 after buying an additional 320 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now directly owns 152,604 shares in the company, valued at $6,534,503.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now directly owns 660,353 shares in the company, valued at $27,246,164.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the sale, the insider now owns 152,604 shares in the company, valued at $6,534,503.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,158 shares of company stock worth $6,106,106. Company insiders own 0.65% of the company’s stock.

Synchrony Financial Trading Up 0.0 %

NYSE SYF traded up $0.01 during trading hours on Friday, hitting $44.67. The company’s stock had a trading volume of 3,698,809 shares, compared to its average volume of 4,315,406. The stock has a fifty day moving average of $41.67 and a 200 day moving average of $36.86. Synchrony Financial has a twelve month low of $26.59 and a twelve month high of $45.46. The firm has a market capitalization of $18.17 billion, a P/E ratio of 6.41, a PEG ratio of 1.10 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.24 and a debt-to-equity ratio of 1.15.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.19). Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the company earned $1.35 earnings per share. Equities research analysts forecast that Synchrony Financial will post 5.6 earnings per share for the current fiscal year.

Synchrony Financial announced that its Board of Directors has approved a share repurchase program on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 5.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 2.24%. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stephens upped their price objective on shares of Synchrony Financial from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Thursday. BMO Capital Markets upped their price objective on shares of Synchrony Financial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday. Morgan Stanley reaffirmed an “underweight” rating and set a $30.00 price objective on shares of Synchrony Financial in a research note on Thursday, February 8th. Finally, Barclays increased their price target on shares of Synchrony Financial from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial currently has an average rating of “Hold” and a consensus target price of $42.72.

Synchrony Financial Profile

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 co-brand 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.