Oppenheimer Asset Management Inc. reduced its stake in Synchrony Financial (NYSE:SYF) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 74,692 shares of the financial services provider’s stock after selling 2,244 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Synchrony Financial were worth $2,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Federated Investors Inc. PA lifted its holdings in Synchrony Financial by 0.6% in the 2nd quarter. Federated Investors Inc. PA now owns 26,333 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Synchrony Financial by 9.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock worth $160,000 after buying an additional 486 shares during the period. Horan Capital Advisors LLC. increased its position in Synchrony Financial by 0.5% in the 2nd quarter. Horan Capital Advisors LLC. now owns 100,524 shares of the financial services provider’s stock worth $2,998,000 after buying an additional 525 shares during the period. Wedbush Securities Inc. increased its position in Synchrony Financial by 8.4% in the 2nd quarter. Wedbush Securities Inc. now owns 8,978 shares of the financial services provider’s stock worth $268,000 after buying an additional 695 shares during the period. Finally, Conning Inc. increased its position in Synchrony Financial by 4.2% in the 2nd quarter. Conning Inc. now owns 17,613 shares of the financial services provider’s stock worth $525,000 after buying an additional 710 shares during the period. Hedge funds and other institutional investors own 85.77% of the company’s stock.

In other Synchrony Financial news, insider David P. Melito sold 2,580 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total value of $90,300.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan S. Mothner sold 1,500 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $32.82, for a total value of $49,230.00. Following the completion of the sale, the insider now owns 113,934 shares in the company, valued at $3,739,313.88. The disclosure for this sale can be found here. Insiders sold 6,961 shares of company stock worth $244,508 over the last quarter. Company insiders own 0.03% of the company’s stock.

SYF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $39.00 price target on shares of Synchrony Financial in a research report on Thursday, October 12th. BMO Capital Markets reaffirmed a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research report on Friday, August 25th. Jefferies Group reaffirmed a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research report on Thursday, September 21st. Barclays set a $40.00 price target on Synchrony Financial and gave the stock a “buy” rating in a research report on Monday, October 23rd. Finally, Morgan Stanley lifted their price target on Synchrony Financial from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Synchrony Financial currently has a consensus rating of “Buy” and an average target price of $37.35.

Synchrony Financial (SYF) traded up $0.09 on Tuesday, hitting $37.59. The stock had a trading volume of 5,916,700 shares, compared to its average volume of 7,058,163. The company has a market capitalization of $29,347.19, a PE ratio of 14.31, a PEG ratio of 1.89 and a beta of 1.06. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.38. Synchrony Financial has a 1-year low of $26.01 and a 1-year high of $38.06.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the prior year, the business posted $0.73 earnings per share. analysts anticipate that Synchrony Financial will post 2.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 6th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Friday, November 3rd. Synchrony Financial’s dividend payout ratio (DPR) is 22.90%.

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Synchrony Financial 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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