Mutual of America Capital Management LLC Sells 38,995 Shares of Synchrony Financial (NYSE:SYF)

Mutual of America Capital Management LLC decreased its position in shares of Synchrony Financial (NYSE:SYF) by 44.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,670 shares of the financial services provider’s stock after selling 38,995 shares during the period. Mutual of America Capital Management LLC’s holdings in Synchrony Financial were worth $2,428,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in Synchrony Financial in the 2nd quarter worth about $31,000. International Assets Investment Management LLC bought a new position in shares of Synchrony Financial during the second quarter valued at approximately $33,000. WR Wealth Planners LLC grew its stake in shares of Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after buying an additional 326 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Synchrony Financial during the 2nd quarter worth approximately $39,000. Finally, Family Firm Inc. purchased a new position in Synchrony Financial during the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Up 1.3 %

NYSE SYF opened at $65.99 on Friday. Synchrony Financial has a 52 week low of $29.15 and a 52 week high of $67.76. The company has a 50 day moving average price of $55.81 and a 200 day moving average price of $49.75. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm has a market cap of $25.69 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.90 and a beta of 1.59.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 earnings per share. As a group, sell-side analysts forecast that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Analysts Set New Price Targets

SYF has been the topic of a number of recent analyst reports. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a research note on Monday, October 14th. Morgan Stanley boosted their price objective on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Barclays raised their target price on shares of Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, TD Cowen boosted their price target on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.43.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the sale, the insider now owns 127,587 shares in the company, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the sale, the insider now owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This trade represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Synchrony Financial 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.