10,331 Synchrony Financial $SYF Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in shares of Synchrony Financial (NYSE:SYF) by 3.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 325,277 shares of the financial services provider’s stock after selling 10,331 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Synchrony Financial were worth $23,085,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Lido Advisors LLC increased its position in shares of Synchrony Financial by 61.3% during the third quarter. Lido Advisors LLC now owns 11,627 shares of the financial services provider’s stock valued at $825,000 after purchasing an additional 4,419 shares during the period. Kestra Investment Management LLC raised its stake in shares of Synchrony Financial by 39.3% in the third quarter. Kestra Investment Management LLC now owns 14,682 shares of the financial services provider’s stock valued at $1,042,000 after purchasing an additional 4,142 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in Synchrony Financial in the third quarter worth $4,182,000. Allspring Global Investments Holdings LLC lifted its position in Synchrony Financial by 5.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 68,100 shares of the financial services provider’s stock worth $4,870,000 after purchasing an additional 3,781 shares during the period. Finally, Hohimer Wealth Management LLC lifted its position in Synchrony Financial by 10.8% in the third quarter. Hohimer Wealth Management LLC now owns 52,533 shares of the financial services provider’s stock worth $3,728,000 after purchasing an additional 5,109 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SYF shares. Morgan Stanley reduced their price objective on shares of Synchrony Financial from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. Weiss Ratings raised shares of Synchrony Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Jefferies Financial Group reissued a “buy” rating and issued a $103.00 price target on shares of Synchrony Financial in a research report on Tuesday, October 20th. UBS Group dropped their price target on shares of Synchrony Financial from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, November 2nd. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Synchrony Financial in a research note on Tuesday, October 20th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus target price of $87.78.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $71.78 on Wednesday. The business’s fifty day moving average price is $74.31 and its two-hundred day moving average price is $73.51. Synchrony Financial has a fifty-two week low of $63.08 and a fifty-two week high of $88.77. The stock has a market capitalization of $22.35 billion, a price-to-earnings ratio of 7.49, a price-to-earnings-growth ratio of 0.91 and a beta of 1.40. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 1.23.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.26. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Synchrony Financial had a net margin of 14.59% and a return on equity of 22.26%. During the same quarter last year, the company posted $2.86 EPS. As a group, analysts predict that Synchrony Financial will post 9.59 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 5th will be paid a $0.34 dividend. The ex-dividend date is Thursday, November 5th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. Synchrony Financial’s dividend payout ratio (DPR) is 14.20%.

Synchrony Financial Profile

Synchrony Financial is a consumer financial services company that provides credit products and related services through partnerships with retailers, healthcare providers and other businesses. Its offerings include private-label and co-branded credit cards, installment loans and promotional financing options. The company also provides consumer banking products, including savings accounts and certificates of deposit. Its financing solutions serve customers in areas such as retail, home improvement, automotive, health and wellness, and digital commerce, primarily in the United States.