Canada Pension Plan Investment Board increased its stake in shares of Synchrony Financial (NYSE:SYF) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,135,974 shares of the financial services provider’s stock after buying an additional 57,128 shares during the period. Canada Pension Plan Investment Board’s holdings in Synchrony Financial were worth $63,695,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Fulton Bank N.A. raised its stake in Synchrony Financial by 8.4% in the first quarter. Fulton Bank N.A. now owns 6,346 shares of the financial services provider’s stock valued at $218,000 after buying an additional 494 shares in the last quarter. Raymond James Trust N.A. raised its stake in Synchrony Financial by 4.3% in the first quarter. Raymond James Trust N.A. now owns 6,625 shares of the financial services provider’s stock valued at $227,000 after buying an additional 274 shares in the last quarter. Creative Planning raised its stake in Synchrony Financial by 4.3% in the first quarter. Creative Planning now owns 5,863 shares of the financial services provider’s stock valued at $201,000 after buying an additional 240 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in Synchrony Financial by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 253,645 shares of the financial services provider’s stock valued at $8,700,000 after buying an additional 3,100 shares in the last quarter. Finally, National Pension Service raised its stake in Synchrony Financial by 1.8% in the first quarter. National Pension Service now owns 669,224 shares of the financial services provider’s stock valued at $23,041,000 after buying an additional 11,797 shares in the last quarter. Institutional investors own 89.61% of the company’s stock.

Synchrony Financial (NYSE:SYF) opened at 29.32 on Friday. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06. The firm has a market cap of $23.32 billion, a P/E ratio of 11.01 and a beta of 1.01. The firm’s 50-day moving average price is $29.83 and its 200 day moving average price is $31.82.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data 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. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. During the same period last year, the firm posted $0.58 earnings per share. Analysts forecast that Synchrony Financial will post $2.60 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.13. Synchrony Financial’s payout ratio is presently 22.64%.

Synchrony Financial announced that its board has authorized a share repurchase program on Thursday, May 18th that authorizes the company to buyback $1.64 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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SYF has been the topic of several analyst reports. Goldman Sachs Group, Inc. (The) lowered Synchrony Financial from a “conviction-buy” rating to a “neutral” rating and lowered their price objective for the company from $44.00 to $33.00 in a research note on Friday, April 28th. Stephens lowered Synchrony Financial from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $44.00 to $29.00 in a research note on Monday, May 1st. Deutsche Bank AG lowered their price objective on Synchrony Financial from $47.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, May 1st. DA Davidson lowered their price objective on Synchrony Financial from $45.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. Finally, Jefferies Group LLC lowered their price objective on Synchrony Financial from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Synchrony Financial presently has an average rating of “Buy” and a consensus price target of $37.46.

In related news, Director Paget Leonard Alves bought 2,000 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were purchased at an average price of $30.85 per share, with a total value of $61,700.00. Following the completion of the purchase, the director now owns 8,521 shares in the company, valued at approximately $262,872.85. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 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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