Rhumbline Advisers lessened its stake in Synchrony Financial (NYSE:SYF) by 3.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,198,398 shares of the financial services provider’s stock after selling 48,136 shares during the quarter. Rhumbline Advisers’ holdings in Synchrony Financial were worth $37,246,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB lifted its stake in Synchrony Financial by 2.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 167,194 shares of the financial services provider’s stock worth $5,581,000 after purchasing an additional 3,700 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Synchrony Financial in the 2nd quarter worth approximately $402,000. Westpac Banking Corp lifted its stake in Synchrony Financial by 20.8% in the 2nd quarter. Westpac Banking Corp now owns 96,949 shares of the financial services provider’s stock worth $3,236,000 after purchasing an additional 16,684 shares in the last quarter. World Asset Management Inc lifted its stake in Synchrony Financial by 7.7% in the 2nd quarter. World Asset Management Inc now owns 48,404 shares of the financial services provider’s stock worth $1,616,000 after purchasing an additional 3,449 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Synchrony Financial by 9.1% in the 2nd quarter. Amalgamated Bank now owns 104,059 shares of the financial services provider’s stock worth $3,473,000 after purchasing an additional 8,693 shares in the last quarter. 85.21% of the stock is owned by institutional investors.

Shares of NYSE SYF opened at $25.91 on Monday. The company has a market cap of $18.62 billion, a PE ratio of 9.89, a PEG ratio of 0.70 and a beta of 1.05. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.40 and a quick ratio of 1.40. Synchrony Financial has a 1 year low of $25.44 and a 1 year high of $40.59.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 19th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.11. Synchrony Financial had a net margin of 13.70% and a return on equity of 17.90%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter last year, the firm earned $0.70 EPS. On average, sell-side analysts expect that Synchrony Financial will post 3.54 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 5th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $0.84 annualized dividend and a yield of 3.24%. Synchrony Financial’s dividend payout ratio (DPR) is presently 32.06%.

A number of research firms have weighed in on SYF. Morgan Stanley decreased their target price on shares of Synchrony Financial from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Monday, November 5th. ValuEngine lowered shares of Synchrony Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, November 2nd. Stephens lowered shares of Synchrony Financial from an “equal weight” rating to a “sell” rating and set a $26.00 target price on the stock. in a research note on Friday, November 2nd. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research note on Thursday, November 1st. Finally, Citigroup cut their price target on shares of Synchrony Financial from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $37.06.

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Synchrony Financial Company Profile

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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