Synchrony Financial (NYSE:SYF) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in shares of Synchrony Financial (NYSE:SYF) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,248 shares of the financial services provider’s stock after acquiring an additional 2,200 shares during the period. Public Sector Pension Investment Board’s holdings in Synchrony Financial were worth $3,504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its holdings in Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 292 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in Synchrony Financial in the second quarter valued at $31,000. International Assets Investment Management LLC purchased a new position in Synchrony Financial during the second quarter worth about $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 worth $34,000 after buying an additional 326 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Synchrony Financial in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SYF shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a report on Thursday, October 17th. Compass Point upped their price objective on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays lifted their target price on Synchrony Financial from $49.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group upped their price target on Synchrony Financial from $64.00 to $72.50 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus target price of $58.68.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $67.14 on Wednesday. The business has a 50 day moving average price of $58.33 and a two-hundred day moving average price of $50.88. Synchrony Financial has a fifty-two week low of $33.51 and a fifty-two week high of $69.00. The firm has a market cap of $26.14 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 0.93 and a beta of 1.63. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 earnings per share. Sell-side analysts expect that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.49%. Synchrony Financial’s dividend payout ratio (DPR) is 13.05%.

Insider Buying and Selling at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the transaction, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. 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.