Metis Global Partners LLC Trims Stock Holdings in Synchrony Financial (NYSE:SYF)

Metis Global Partners LLC reduced its position in Synchrony Financial (NYSE:SYF) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,286 shares of the financial services provider’s stock after selling 641 shares during the quarter. Metis Global Partners LLC’s holdings in Synchrony Financial were worth $1,561,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC purchased a new position in Synchrony Financial during the 1st quarter worth $28,000. Altshuler Shaham Ltd acquired a new position in Synchrony Financial in the 2nd quarter valued at about $31,000. International Assets Investment Management LLC purchased a new stake in Synchrony Financial during the 2nd quarter valued at approximately $33,000. WR Wealth Planners LLC lifted its position in Synchrony Financial by 83.6% during the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Synchrony Financial in the 2nd quarter valued at approximately $39,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JMP Securities restated a “market outperform” rating and set a $60.00 price target on shares of Synchrony Financial in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price target on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 17th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, August 9th. Finally, Robert W. Baird set a $62.00 price objective on Synchrony Financial in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.60.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $64.98 on Friday. The firm has a market capitalization of $25.30 billion, a PE ratio of 8.48, a P/E/G ratio of 1.25 and a beta of 1.59. Synchrony Financial has a 52 week low of $28.84 and a 52 week high of $67.76. The firm’s 50-day simple moving average is $54.02 and its 200 day simple moving average is $49.03. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the transaction, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. This trade represents a 49.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

About Synchrony Financial

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.