Teacher Retirement System of Texas trimmed its holdings in Synchrony Financial (NYSE:SYF) by 89.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,007 shares of the financial services provider’s stock after selling 2,105,874 shares during the quarter. Teacher Retirement System of Texas’ holdings in Synchrony Financial were worth $9,691,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. raised its holdings in Synchrony Financial by 10.2% during the 2nd quarter. Macquarie Group Ltd. now owns 183,246 shares of the financial services provider’s stock worth $5,464,000 after buying an additional 16,994 shares during the period. Shelton Capital Management acquired a new stake in Synchrony Financial during the 2nd quarter worth about $201,000. Advisory Services Network LLC raised its holdings in Synchrony Financial by 18.7% during the 2nd quarter. Advisory Services Network LLC now owns 12,571 shares of the financial services provider’s stock worth $375,000 after buying an additional 1,977 shares during the period. USA Financial Portformulas Corp acquired a new stake in Synchrony Financial during the 2nd quarter worth about $433,000. Finally, Lord Abbett & CO. LLC raised its holdings in Synchrony Financial by 26.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 491,800 shares of the financial services provider’s stock worth $14,665,000 after buying an additional 103,300 shares during the period. 86.29% of the stock is owned by institutional investors.

In related news, insider David P. Melito sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the transaction, the insider now owns 39,259 shares in the company, valued at $1,570,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David P. Melito sold 2,580 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total value of $90,300.00. The disclosure for this sale can be found here. Insiders sold 6,461 shares of company stock worth $241,778 in the last 90 days. 0.03% of the stock is currently owned by corporate insiders.

Several research firms have issued reports on SYF. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, January 31st. Barclays set a $53.00 target price on Synchrony Financial and gave the company a “buy” rating in a report on Monday, January 22nd. Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a report on Monday, January 22nd. Wells Fargo & Co upgraded Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Tuesday, January 9th. Finally, Jefferies Group reiterated a “buy” rating and issued a $44.00 target price on shares of Synchrony Financial in a report on Tuesday, December 26th. Nine equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $38.30.

Synchrony Financial (NYSE SYF) opened at $36.00 on Wednesday. Synchrony Financial has a twelve month low of $26.01 and a twelve month high of $40.59. The company has a market capitalization of $27,922.92, a P/E ratio of 13.83, a P/E/G ratio of 1.40 and a beta of 1.01. The company has a quick ratio of 1.47, a current ratio of 1.45 and a debt-to-equity ratio of 1.46.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. analysts expect that Synchrony Financial will post 3.38 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.67%. Synchrony Financial’s dividend payout ratio is currently 24.90%.

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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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