Hartford Investment Management Co. trimmed its position in shares of Synchrony Financial (NYSE:SYF) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,757 shares of the financial services provider’s stock after selling 2,676 shares during the period. Hartford Investment Management Co.’s holdings in Synchrony Financial were worth $1,730,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SYF. Taylor Hoffman Wealth Management purchased a new position in shares of Synchrony Financial during the 4th quarter valued at about $39,000. Dubuque Bank & Trust Co. bought a new stake in shares of Synchrony Financial in the 4th quarter worth approximately $43,000. Huntington National Bank grew its position in shares of Synchrony Financial by 47.6% in the 4th quarter. Huntington National Bank now owns 1,908 shares of the financial services provider’s stock worth $45,000 after buying an additional 615 shares during the last quarter. First Mercantile Trust Co. grew its position in shares of Synchrony Financial by 34.6% in the 4th quarter. First Mercantile Trust Co. now owns 4,550 shares of the financial services provider’s stock worth $107,000 after buying an additional 1,170 shares during the last quarter. Finally, Ayalon Holdings Ltd. bought a new stake in shares of Synchrony Financial in the 3rd quarter worth approximately $140,000. 84.28% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on SYF. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Friday. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Wednesday, January 30th. Stephens reiterated a “hold” rating and issued a $34.00 price objective on shares of Synchrony Financial in a research report on Sunday, January 27th. CIBC upgraded Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Thursday, January 24th. Finally, Oppenheimer upgraded Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $37.71.

SYF stock opened at $29.94 on Monday. Synchrony Financial has a 1-year low of $21.77 and a 1-year high of $38.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.41 and a quick ratio of 1.40. The firm has a market capitalization of $21.52 billion, a PE ratio of 8.01, a price-to-earnings-growth ratio of 0.77 and a beta of 1.27.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Synchrony Financial had a return on equity of 19.41% and a net margin of 15.45%. During the same quarter in the prior year, the business earned $0.70 earnings per share. As a group, research analysts anticipate that Synchrony Financial will post 4.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Monday, February 4th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, February 1st. Synchrony Financial’s payout ratio is 22.46%.

In other Synchrony Financial news, insider David P. Melito sold 3,934 shares of the company’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $30.00, for a total value of $118,020.00. Following the completion of the sale, the insider now owns 29,486 shares in the company, valued at $884,580. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $30.00, for a total value of $96,120.00. Following the completion of the sale, the insider now owns 40,313 shares of the company’s stock, valued at approximately $1,209,390. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

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Synchrony Financial Company Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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