Whittier Trust Co. Cuts Holdings in Synchrony Financial (NYSE:SYF)

Whittier Trust Co. decreased its position in Synchrony Financial (NYSE:SYF) by 28.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,091 shares of the financial services provider’s stock after selling 4,479 shares during the period. Whittier Trust Co.’s holdings in Synchrony Financial were worth $553,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Quent Capital LLC increased its position in shares of Synchrony Financial by 15.4% during the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 214 shares during the last quarter. Wedmont Private Capital increased its position in shares of Synchrony Financial by 3.3% during the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 242 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Synchrony Financial by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after purchasing an additional 251 shares during the period. Certuity LLC boosted its holdings in shares of Synchrony Financial by 0.8% in the 2nd quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock worth $1,478,000 after buying an additional 264 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its position in Synchrony Financial by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 90,343 shares of the financial services provider’s stock valued at $3,896,000 after buying an additional 265 shares during the period. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $55.00 on Thursday. The firm has a market capitalization of $21.74 billion, a P/E ratio of 7.18, a P/E/G ratio of 1.30 and a beta of 1.61. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock’s 50-day simple moving average is $50.01 and its two-hundred day simple moving average is $46.94. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $57.26.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the firm posted $1.48 earnings per share. Synchrony Financial’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Synchrony Financial will post 6.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SYF. Royal Bank of Canada boosted their target price on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research note on Thursday, October 17th. Barclays upped their price objective on Synchrony Financial from $49.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. BMO Capital Markets decreased their target price on Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a research report on Thursday, July 18th. The Goldman Sachs Group upped their price target on Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, JMP Securities reissued a “market outperform” rating and issued a $60.00 price objective on shares of Synchrony Financial in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and an average target price of $56.25.

Insider Transactions at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

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.