Baird Financial Group Inc. lessened its holdings in shares of Synchrony Financial (NYSE:SYF) by 2.0% in the second quarter, HoldingsChannel reports. The fund owned 111,716 shares of the financial services provider’s stock after selling 2,255 shares during the period. Baird Financial Group Inc.’s holdings in Synchrony Financial were worth $3,729,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SYF. First Mercantile Trust Co. bought a new position in shares of Synchrony Financial during the second quarter valued at approximately $120,000. Summit Trail Advisors LLC grew its stake in Synchrony Financial by 3,393.6% in the first quarter. Summit Trail Advisors LLC now owns 126,118 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 122,508 shares during the period. Assetmark Inc. grew its stake in Synchrony Financial by 98.1% in the second quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 2,143 shares during the period. AdvisorNet Financial Inc grew its stake in Synchrony Financial by 111.6% in the second quarter. AdvisorNet Financial Inc now owns 5,202 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 2,744 shares during the period. Finally, Financial Advocates Investment Management purchased a new stake in Synchrony Financial in the first quarter worth $212,000. Institutional investors own 85.11% of the company’s stock.

In related news, Director Roy A. Guthrie bought 10,000 shares of the business’s stock in a transaction dated Monday, July 30th. The shares were purchased at an average cost of $29.53 per share, with a total value of $295,300.00. Following the completion of the purchase, the director now owns 47,997 shares in the company, valued at approximately $1,417,351.41. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Several equities research analysts recently weighed in on the company. Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Monday, August 6th. UBS Group raised Synchrony Financial from a “sell” rating to a “neutral” rating and upped their price target for the stock from $32.00 to $33.00 in a research note on Friday, August 3rd. ValuEngine cut Synchrony Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 1st. Compass Point reaffirmed a “buy” rating and issued a $39.00 price target on shares of Synchrony Financial in a research note on Monday, July 30th. Finally, BMO Capital Markets reduced their price target on Synchrony Financial from $51.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday, July 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.44.

NYSE SYF opened at $32.21 on Friday. Synchrony Financial has a 12 month low of $28.46 and a 12 month high of $40.59. The firm has a market capitalization of $24.03 billion, a PE ratio of 12.32, a P/E/G ratio of 0.93 and a beta of 1.05.

Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, July 27th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. Synchrony Financial had a return on equity of 16.96% and a net margin of 13.39%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. equities research analysts anticipate that Synchrony Financial will post 3.39 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 6th were paid a $0.21 dividend. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.15. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, August 3rd. Synchrony Financial’s dividend payout ratio is currently 32.06%.

About Synchrony Financial

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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

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