California Public Employees Retirement System Sells 82,074 Shares of Synchrony Financial (NYSE:SYF)

California Public Employees Retirement System trimmed its holdings in Synchrony Financial (NYSE:SYF) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 707,572 shares of the financial services provider’s stock after selling 82,074 shares during the quarter. California Public Employees Retirement System’s holdings in Synchrony Financial were worth $45,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. New Wave Wealth Advisors LLC acquired a new stake in Synchrony Financial in the 4th quarter worth $452,000. National Bank of Canada FI lifted its stake in shares of Synchrony Financial by 119.0% in the third quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock valued at $12,123,000 after buying an additional 132,047 shares during the period. Asset Management One Co. Ltd. increased its stake in Synchrony Financial by 7.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider’s stock valued at $11,787,000 after acquiring an additional 12,492 shares during the period. Brophy Wealth Management LLC bought a new position in Synchrony Financial during the third quarter valued at about $544,000. Finally, Summit Trail Advisors LLC acquired a new position in Synchrony Financial in the 4th quarter valued at approximately $423,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group decreased their target price on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. StockNews.com lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Truist Financial decreased their price objective on Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.10.

Synchrony Financial Stock Up 0.5 %

Shares of NYSE:SYF opened at $53.22 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The firm has a market cap of $20.69 billion, a P/E ratio of 6.23, a P/E/G ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93. The company’s 50-day moving average price is $60.53 and its two-hundred day moving average price is $60.71.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

Synchrony Financial Company Profile

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.