Klein Pavlis & Peasley Financial Inc. Trims Stock Position in Synchrony Financial (NYSE:SYF)

Klein Pavlis & Peasley Financial Inc. cut its stake in shares of Synchrony Financial (NYSE:SYF) by 25.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,600 shares of the financial services provider’s stock after selling 8,300 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in Synchrony Financial were worth $1,227,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quent Capital LLC increased its holdings in Synchrony Financial by 15.4% during the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock valued at $69,000 after buying an additional 214 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Synchrony Financial by 1.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock worth $997,000 after purchasing an additional 227 shares during the last quarter. Wedmont Private Capital grew its holdings in Synchrony Financial by 3.3% in the third quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 242 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Synchrony Financial by 0.5% in the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after purchasing an additional 251 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in Synchrony Financial by 2.7% in the third quarter. Signaturefd LLC now owns 9,877 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 261 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group boosted their price objective on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on shares of Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Finally, JMP Securities reissued a “market outperform” rating and set a $60.00 price objective on shares of Synchrony Financial in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.25.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the sale, the insider now directly owns 49,390 shares in the company, valued at $2,510,987.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Down 0.2 %

SYF stock opened at $55.15 on Monday. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 1.19 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 12 month low of $27.65 and a 12 month high of $57.26. The firm has a 50-day moving average of $50.37 and a two-hundred day moving average of $47.16.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. Synchrony Financial’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts forecast that Synchrony Financial will post 6.28 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.81%. Synchrony Financial’s dividend payout ratio (DPR) is 13.05%.

Synchrony Financial Company 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.