Westchester Capital Management Inc. decreased its holdings in shares of Synchrony Financial (NYSE:SYF) by 98.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,388 shares of the financial services provider’s stock after selling 224,827 shares during the quarter. Westchester Capital Management Inc.’s holdings in Synchrony Financial were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of SYF. WINTON GROUP Ltd raised its holdings in Synchrony Financial by 944.8% during the 2nd quarter. WINTON GROUP Ltd now owns 660,994 shares of the financial services provider’s stock valued at $22,917,000 after acquiring an additional 597,726 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Synchrony Financial by 2.4% in the second quarter. Crossmark Global Holdings Inc. now owns 68,199 shares of the financial services provider’s stock worth $2,364,000 after purchasing an additional 1,602 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in shares of Synchrony Financial by 47.3% in the second quarter. Campbell & CO Investment Adviser LLC now owns 21,711 shares of the financial services provider’s stock worth $753,000 after purchasing an additional 6,967 shares during the period. Moon Capital Management LLC increased its holdings in shares of Synchrony Financial by 6.5% in the second quarter. Moon Capital Management LLC now owns 112,800 shares of the financial services provider’s stock worth $3,911,000 after purchasing an additional 6,914 shares during the period. Finally, First Citizens Bank & Trust Co. increased its holdings in shares of Synchrony Financial by 10.9% in the second quarter. First Citizens Bank & Trust Co. now owns 45,173 shares of the financial services provider’s stock worth $1,566,000 after purchasing an additional 4,426 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

NYSE:SYF traded down $0.02 during midday trading on Friday, hitting $36.94. The company had a trading volume of 3,898,564 shares, compared to its average volume of 5,632,108. Synchrony Financial has a 52-week low of $21.77 and a 52-week high of $37.33. The stock’s fifty day moving average price is $34.24 and its 200-day moving average price is $34.30. The company has a market capitalization of $23.88 billion, a PE ratio of 9.88, a P/E/G ratio of 0.91 and a beta of 1.16. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 1.35.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, October 18th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. Synchrony Financial had a net margin of 19.54% and a return on equity of 20.05%. The company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the business earned $0.91 earnings per share. As a group, research analysts forecast that Synchrony Financial will post 4.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a $0.22 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.88 annualized dividend and a yield of 2.38%. Synchrony Financial’s dividend payout ratio (DPR) is presently 23.53%.

In related news, Director Will W. Graylin sold 7,500 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $33.71, for a total value of $252,825.00. Following the completion of the transaction, the director now directly owns 76,662 shares in the company, valued at $2,584,276.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by insiders.

SYF has been the topic of several research analyst reports. Nomura set a $43.00 price target on shares of Synchrony Financial and gave the stock a “buy” rating in a report on Monday, October 21st. BTIG Research reaffirmed a “buy” rating and issued a $42.00 price target on shares of Synchrony Financial in a report on Monday, July 22nd. BMO Capital Markets set a $43.00 price target on shares of Synchrony Financial and gave the stock a “buy” rating in a report on Sunday, July 21st. Buckingham Research initiated coverage on shares of Synchrony Financial in a report on Monday, July 22nd. They issued a “buy” rating and a $42.00 price target on the stock. Finally, ValuEngine cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $38.92.

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.

Read More: Net Income

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

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