Glenmede Trust Co. NA Has $1.65 Million Stock Position in Synchrony Financial (NYSE:SYF)

Glenmede Trust Co. NA lessened its stake in Synchrony Financial (NYSE:SYF) by 15.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 32,982 shares of the financial services provider’s stock after selling 5,842 shares during the quarter. Glenmede Trust Co. NA’s holdings in Synchrony Financial were worth $1,645,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Bridgewater Associates LP acquired a new position in Synchrony Financial in the 3rd quarter worth $8,174,000. Townsquare Capital LLC bought a new stake in shares of Synchrony Financial in the third quarter valued at about $245,000. Brooklyn Investment Group acquired a new position in shares of Synchrony Financial during the third quarter worth about $110,000. Quantbot Technologies LP bought a new position in shares of Synchrony Financial during the third quarter worth about $791,000. Finally, Bank of Montreal Can raised its position in Synchrony Financial by 35.9% in the 3rd quarter. Bank of Montreal Can now owns 597,103 shares of the financial services provider’s stock valued at $29,646,000 after buying an additional 157,763 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial 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 $8,291,879.13. The trade was a 21.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Up 0.4 %

Shares of SYF opened at $67.52 on Monday. The firm has a market cap of $26.29 billion, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a 52 week low of $31.26 and a 52 week high of $68.69. The firm’s 50-day simple moving average is $57.60 and its 200 day simple moving average is $50.55.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.77 by $0.17. The company 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 firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. On average, analysts forecast that Synchrony Financial will post 6.52 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The company also recently announced 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 1.48%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Analyst Upgrades and Downgrades

SYF has been the subject of several research reports. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Friday, August 9th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a research note on Monday, October 14th. BTIG Research cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Royal Bank of Canada raised their price objective on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a report on Thursday, October 17th. Finally, Compass Point upped their target price on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

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.