Meeder Asset Management Inc. Has $2.66 Million Stock Holdings in Synchrony Financial (NYSE:SYF)

Meeder Asset Management Inc. increased its holdings in shares of Synchrony Financial (NYSE:SYF) by 1,166.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,348 shares of the financial services provider’s stock after acquiring an additional 49,136 shares during the period. Meeder Asset Management Inc.’s holdings in Synchrony Financial were worth $2,661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new stake in Synchrony Financial during the second quarter valued at approximately $31,000. International Assets Investment Management LLC bought a new position in shares of Synchrony Financial during the 2nd quarter worth approximately $33,000. WR Wealth Planners LLC boosted its stake in 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 buying an additional 326 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Synchrony Financial in the second quarter valued at $39,000. Finally, Family Firm Inc. acquired a new position in Synchrony Financial during the second quarter worth $42,000. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Down 1.4 %

SYF opened at $64.05 on Tuesday. Synchrony Financial has a fifty-two week low of $29.15 and a fifty-two week high of $67.76. The company has a market cap of $24.94 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 0.90 and a beta of 1.59. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $54.34 and a 200 day simple moving average of $49.24.

Synchrony Financial (NYSE:SYF) last issued 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. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Synchrony Financial will post 6.52 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.56%. Synchrony Financial’s payout ratio is currently 13.05%.

Wall Street Analysts Forecast Growth

SYF has been the topic of several recent analyst reports. Evercore ISI boosted their target price on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a research report on Thursday, October 17th. Morgan Stanley raised their price objective on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted 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. Finally, Jefferies Financial Group increased their price target on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

Insider Activity

In other news, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the transaction, the insider now owns 99,743 shares of the company’s stock, valued at $5,498,831.59. The trade was a 18.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by company 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.