Mackenzie Financial Corp Has $28.32 Million Stock Holdings in Synchrony Financial (NYSE:SYF)

Mackenzie Financial Corp reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 6.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 600,140 shares of the financial services provider’s stock after selling 38,781 shares during the period. Mackenzie Financial Corp’s holdings in Synchrony Financial were worth $28,321,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SYF. Headlands Technologies LLC bought a new stake in shares of Synchrony Financial during the first quarter worth $28,000. Altshuler Shaham Ltd acquired a new position in Synchrony Financial in the 2nd quarter worth $31,000. International Assets Investment Management LLC bought a new position in Synchrony Financial during the 2nd quarter worth about $33,000. WR Wealth Planners LLC raised its stake in shares of Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Synchrony Financial in the second quarter valued at about $39,000. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Up 1.2 %

Shares of Synchrony Financial stock opened at $49.65 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. The business has a fifty day simple moving average of $48.17 and a two-hundred day simple moving average of $45.58. Synchrony Financial has a 1 year low of $27.30 and a 1 year high of $52.67. The company has a market capitalization of $19.62 billion, a price-to-earnings ratio of 7.12, a P/E/G ratio of 1.13 and a beta of 1.62.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the firm posted $1.32 EPS. Research analysts forecast that Synchrony Financial will post 5.79 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s payout ratio is 14.35%.

Insider Transactions at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s 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 completion of the sale, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction dated 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 $2,510,987.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction dated 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 approximately $3,563,209.23. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SYF. Barclays increased their price objective on Synchrony Financial from $46.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Jefferies Financial Group raised their price target on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Wells Fargo & Company boosted their price objective on shares of Synchrony Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Royal Bank of Canada raised their target price on shares of Synchrony Financial from $50.00 to $55.00 and gave the company a “sector perform” rating in a research report on Thursday, July 18th. Finally, BMO Capital Markets cut their price target on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.41.

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.