Principal Financial Group Inc. boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 3.8% during the 1st quarter, HoldingsChannel reports. The fund owned 1,242,945 shares of the financial services provider’s stock after buying an additional 45,676 shares during the period. Principal Financial Group Inc.’s holdings in Synchrony Financial were worth $39,651,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. First Mercantile Trust Co. lifted its position in Synchrony Financial by 34.6% during the fourth quarter. First Mercantile Trust Co. now owns 4,550 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 1,170 shares during the last quarter. LSV Asset Management increased its stake in Synchrony Financial by 67.8% in the 4th quarter. LSV Asset Management now owns 112,254 shares of the financial services provider’s stock worth $2,633,000 after buying an additional 45,354 shares during the period. Roosevelt Investment Group Inc. purchased a new position in Synchrony Financial in the 4th quarter worth about $496,000. Oregon Public Employees Retirement Fund increased its stake in Synchrony Financial by 2,218.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,810,995 shares of the financial services provider’s stock worth $77,000 after buying an additional 1,732,885 shares during the period. Finally, Stevens Capital Management LP purchased a new position in Synchrony Financial in the 4th quarter worth about $9,012,000. Institutional investors own 85.10% of the company’s stock.

In other news, insider David P. Melito sold 3,204 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $34.00, for a total value of $108,936.00. Following the sale, the insider now directly owns 29,476 shares in the company, valued at approximately $1,002,184. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David P. Melito sold 6,014 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $34.25, for a total transaction of $205,979.50. Following the completion of the sale, the insider now owns 29,476 shares in the company, valued at $1,009,553. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

SYF has been the topic of several recent analyst reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Wednesday, March 13th. Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, March 18th. ValuEngine downgraded shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 price target on shares of Synchrony Financial in a research note on Friday, May 3rd. Finally, Nomura raised their price target on shares of Synchrony Financial from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $37.47.

Synchrony Financial stock traded down $0.21 during midday trading on Wednesday, hitting $33.84. 59,615 shares of the company’s stock were exchanged, compared to its average volume of 6,641,663. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.39 and a quick ratio of 1.27. Synchrony Financial has a 12 month low of $21.77 and a 12 month high of $35.56. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.03 and a beta of 1.23.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.12. Synchrony Financial had a net margin of 17.52% and a return on equity of 19.79%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the business earned $0.83 EPS. On average, equities analysts expect that Synchrony Financial will post 4.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.48%. The ex-dividend date was Friday, May 3rd. Synchrony Financial’s payout ratio is 22.46%.

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Synchrony Financial 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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