Franklin Resources Inc. Sells 211,163 Shares of Synchrony Financial (NYSE:SYF)

Franklin Resources Inc. decreased its position in shares of Synchrony Financial (NYSE:SYF) by 49.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 211,805 shares of the financial services provider’s stock after selling 211,163 shares during the period. Franklin Resources Inc.’s holdings in Synchrony Financial were worth $3,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. GHP Investment Advisors Inc. increased its position in Synchrony Financial by 6.7% during the first quarter. GHP Investment Advisors Inc. now owns 37,077 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 2,323 shares during the last quarter. Roosevelt Investment Group Inc. increased its position in Synchrony Financial by 41.4% during the first quarter. Roosevelt Investment Group Inc. now owns 29,771 shares of the financial services provider’s stock valued at $479,000 after acquiring an additional 8,713 shares during the last quarter. Perella Weinberg Partners Capital Management LP increased its position in Synchrony Financial by 4.1% during the first quarter. Perella Weinberg Partners Capital Management LP now owns 26,221 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 1,033 shares during the last quarter. Piedmont Investment Advisors Inc. increased its position in Synchrony Financial by 4.1% during the first quarter. Piedmont Investment Advisors Inc. now owns 231,291 shares of the financial services provider’s stock valued at $3,721,000 after acquiring an additional 9,186 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its position in Synchrony Financial by 3,478,129.7% during the first quarter. Altshuler Shaham Ltd now owns 3,860,835 shares of the financial services provider’s stock valued at $62,120,000 after acquiring an additional 3,860,724 shares during the last quarter. Institutional investors and hedge funds own 88.83% of the company’s stock.

A number of research firms have weighed in on SYF. BMO Capital Markets cut their price objective on shares of Synchrony Financial from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Royal Bank of Canada restated a “buy” rating and issued a $20.00 price target on shares of Synchrony Financial in a report on Wednesday, April 22nd. ValuEngine upgraded shares of Synchrony Financial from a “strong sell” rating to a “sell” rating in a report on Friday, May 1st. Oppenheimer restated a “buy” rating and issued a $22.00 price target on shares of Synchrony Financial in a report on Tuesday, April 21st. Finally, Wells Fargo & Co cut their price target on shares of Synchrony Financial from $40.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Synchrony Financial currently has an average rating of “Hold” and an average target price of $24.71.

In other news, Director Laurel Richie purchased 1,600 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was acquired at an average cost of $16.20 per share, with a total value of $25,920.00. Following the completion of the transaction, the director now owns 22,911 shares in the company, valued at approximately $371,158.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Will W. Graylin sold 7,500 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $16.68, for a total transaction of $125,100.00. Following the sale, the director now directly owns 64,811 shares of the company’s stock, valued at $1,081,047.48. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

Shares of Synchrony Financial stock opened at $22.15 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.26 and a quick ratio of 1.26. Synchrony Financial has a 1 year low of $12.15 and a 1 year high of $38.18. The firm’s 50-day moving average is $19.34 and its two-hundred day moving average is $27.12. The stock has a market cap of $14.22 billion, a price-to-earnings ratio of 4.99, a PEG ratio of 4.58 and a beta of 1.65.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.64. Synchrony Financial had a net margin of 15.58% and a return on equity of 18.25%. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same period in the prior year, the business earned $1.00 EPS. On average, equities analysts expect that Synchrony Financial will post 1.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 4th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Friday, May 1st. Synchrony Financial’s payout ratio is 20.51%.

Synchrony Financial 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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