Synchrony Financial (NYSE:SYF) Stock Holdings Lessened by MetLife Investment Management LLC

MetLife Investment Management LLC cut its stake in shares of Synchrony Financial (NYSE:SYF) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,755 shares of the financial services provider’s stock after selling 4,334 shares during the quarter. MetLife Investment Management LLC’s holdings in Synchrony Financial were worth $5,125,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC boosted its position in shares of Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 292 shares during the period. Altshuler Shaham Ltd purchased a new stake in Synchrony Financial during the second quarter valued at about $31,000. International Assets Investment Management LLC acquired a new position in shares of Synchrony Financial in the second quarter worth about $33,000. WR Wealth Planners LLC increased its position in shares of Synchrony Financial by 83.6% in the second 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 in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Synchrony Financial during the second quarter valued at approximately $39,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

SYF opened at $67.52 on Friday. The stock has a 50-day moving average of $57.60 and a 200-day moving average of $50.51. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a 52-week low of $31.26 and a 52-week high of $68.69. The company has a market cap of $26.29 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.59.

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

Synchrony Financial Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial’s dividend payout ratio is 13.05%.

Insider Buying and Selling at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction on 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. The trade was a 18.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SYF shares. BTIG Research cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, August 9th. Jefferies Financial Group increased their price objective on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Compass Point lifted their target price on Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

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.