Maryland State Retirement & Pension System Sells 2,111 Shares of Synchrony Financial (NYSE:SYF)

Maryland State Retirement & Pension System trimmed its stake in Synchrony Financial (NYSE:SYF) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,759 shares of the financial services provider’s stock after selling 2,111 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Synchrony Financial were worth $1,349,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Apollon Wealth Management LLC grew its stake in Synchrony Financial by 2.3% in the fourth quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 160 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its position in shares of Synchrony Financial by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock valued at $604,000 after buying an additional 176 shares during the last quarter. Smithfield Trust Co lifted its position in shares of Synchrony Financial by 19.7% in the fourth quarter. Smithfield Trust Co now owns 1,099 shares of the financial services provider’s stock valued at $69,000 after buying an additional 181 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Synchrony Financial by 2.6% in the fourth quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after buying an additional 192 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Synchrony Financial by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,208 shares of the financial services provider’s stock valued at $1,314,000 after buying an additional 213 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SYF has been the subject of a number of recent analyst reports. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research report on Tuesday, January 28th. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Wells Fargo & Company raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $85.00 in a report on Tuesday, December 3rd. The Goldman Sachs Group dropped their price target on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Finally, Bank of America lifted their price target on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.10.

Synchrony Financial Trading Up 0.4 %

Shares of SYF opened at $54.07 on Friday. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. The business’s fifty day moving average is $62.41 and its 200-day moving average is $60.28. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $21.02 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Synchrony Financial’s payout ratio is 11.71%.

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.