DekaBank Deutsche Girozentrale reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 237,364 shares of the financial services provider’s stock after selling 21,656 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Synchrony Financial were worth $7,106,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. First Quadrant L P CA increased its stake in shares of Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after buying an additional 1,328 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Synchrony Financial by 41.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,280 shares of the financial services provider’s stock valued at $113,000 after buying an additional 965 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Synchrony Financial during the first quarter valued at $152,000. Coconut Grove Bank increased its stake in shares of Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock valued at $154,000 after buying an additional 2,170 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Synchrony Financial by 28.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,901 shares of the financial services provider’s stock valued at $168,000 after buying an additional 1,077 shares in the last quarter. Hedge funds and other institutional investors own 89.63% of the company’s stock.

Shares of Synchrony Financial (SYF) opened at 29.64 on Tuesday. The company has a market capitalization of $23.57 billion, a P/E ratio of 11.13 and a beta of 1.01. The company has a 50 day moving average of $29.84 and a 200-day moving average of $31.66. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06.

Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the company posted $0.58 EPS. On average, equities analysts anticipate that Synchrony Financial will post $2.60 EPS for the current fiscal year.

Synchrony Financial declared that its board has initiated a share repurchase plan on Thursday, May 18th that allows the company to buyback $1.64 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.02%. Synchrony Financial’s dividend payout ratio is presently 22.64%.

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SYF has been the topic of several recent research reports. TheStreet upgraded shares of Synchrony Financial from a “c” rating to a “b” rating in a research report on Monday, July 31st. BTIG Research cut their price objective on shares of Synchrony Financial from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, May 1st. Jefferies Group LLC cut their price objective on shares of Synchrony Financial from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, May 1st. DA Davidson cut their price objective on shares of Synchrony Financial from $45.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, May 1st. Finally, Citigroup Inc. cut their price objective on shares of Synchrony Financial from $43.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.46.

In other Synchrony Financial news, Director Paget Leonard Alves bought 2,000 shares of the business’s stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the transaction, the director now owns 8,521 shares in the company, valued at approximately $262,872.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.03% of the company’s stock.

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.

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

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