British Columbia Investment Management Corp reduced its position in shares of Synchrony Financial (NYSE:SYF) by 46.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 261,952 shares of the company’s stock after selling 225,135 shares during the period. British Columbia Investment Management Corp’s holdings in Synchrony Financial were worth $7,335,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SYF. Cadence Capital Management LLC increased its position in Synchrony Financial by 0.9% in the second quarter. Cadence Capital Management LLC now owns 14,768 shares of the company’s stock worth $373,000 after buying an additional 137 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in Synchrony Financial by 1.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 21,065 shares of the company’s stock worth $479,000 after buying an additional 228 shares during the period. IFP Advisors Inc increased its position in Synchrony Financial by 3.6% in the second quarter. IFP Advisors Inc now owns 6,991 shares of the company’s stock worth $177,000 after buying an additional 243 shares during the period. Independent Portfolio Consultants Inc. increased its position in Synchrony Financial by 2.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 9,710 shares of the company’s stock worth $272,000 after buying an additional 270 shares during the period. Finally, AT Bancorp increased its position in Synchrony Financial by 0.3% in the second quarter. AT Bancorp now owns 148,452 shares of the company’s stock worth $3,752,000 after buying an additional 409 shares during the period. 85.94% of the stock is currently owned by institutional investors.

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

Shares of Synchrony Financial (NYSE:SYF) traded up 1.75% during mid-day trading on Wednesday, hitting $34.39. 5,379,508 shares of the company traded hands. Synchrony Financial has a 52-week low of $23.25 and a 52-week high of $35.02. The firm has a 50-day moving average price of $29.84 and a 200 day moving average price of $28.33. The firm has a market cap of $28.39 billion, a price-to-earnings ratio of 12.93 and a beta of 0.89.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.04. Synchrony Financial had a net margin of 15.40% and a return on equity of 16.61%. During the same period in the previous year, the firm earned $0.69 EPS. Equities research analysts anticipate that Synchrony Financial will post $2.68 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Monday, November 7th were issued a $0.13 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $0.52 annualized dividend and a yield of 1.54%. Synchrony Financial’s dividend payout ratio is presently 19.55%.

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A number of research analysts recently commented on the stock. BTIG Research set a $42.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a research report on Sunday, October 23rd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $31.50 target price on shares of Synchrony Financial in a research report on Thursday, August 18th. TheStreet raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Stephens assumed coverage on shares of Synchrony Financial in a research report on Friday, November 18th. They issued an “overweight” rating and a $40.00 target price on the stock. Finally, Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Thursday, November 24th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $39.83.

In other Synchrony Financial news, insider David P. Melito sold 2,159 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $33.54, for a total transaction of $72,412.86. Following the completion of the sale, the insider now owns 40,863 shares in the company, valued at $1,370,545.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Margaret M. Keane sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the sale, the insider now owns 361,206 shares of the company’s stock, valued at approximately $10,836,180. The disclosure for this sale can be found here. 0.02% of the stock is currently owned by corporate insiders.

Synchrony Financial Company Profile

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

5 Day Chart for NYSE:SYF

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