Synchrony Financial (NYSE:SYF) Shares Bought by Assetmark Inc.

Assetmark Inc. increased its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,319,623 shares of the financial services provider's stock after buying an additional 28,020 shares during the quarter. Assetmark Inc. owned about 0.34% of Synchrony Financial worth $65,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC lifted its position in Synchrony Financial by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 35,893 shares of the financial services provider's stock worth $1,790,000 after buying an additional 3,333 shares during the period. SpiderRock Advisors LLC increased its stake in Synchrony Financial by 45.6% during the third quarter. SpiderRock Advisors LLC now owns 14,103 shares of the financial services provider's stock worth $703,000 after acquiring an additional 4,420 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in Synchrony Financial during the third quarter worth about $2,465,000. Capital Performance Advisors LLP acquired a new stake in Synchrony Financial during the third quarter worth about $50,000. Finally, Philip James Wealth Mangement LLC acquired a new stake in Synchrony Financial during the third quarter worth about $305,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 76,251 shares of the company's stock, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 76,251 shares of the company's stock, valued at approximately $3,563,209.23. This trade represents a 0.00 % 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 firm's stock in a transaction that occurred 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 sale, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Synchrony Financial Stock Performance

NYSE:SYF traded down $0.85 during trading hours on Friday, reaching $63.79. 4,786,578 shares of the stock were exchanged, compared to its average volume of 3,970,227. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm has a 50 day simple moving average of $52.41 and a 200-day simple moving average of $48.31. Synchrony Financial has a 52 week low of $28.84 and a 52 week high of $67.76. The stock has a market capitalization of $24.84 billion, a P/E ratio of 8.33, a P/E/G ratio of 1.31 and a beta of 1.59.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the business posted $1.48 EPS. Synchrony Financial's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Synchrony Financial will post 6.42 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Monday, November 4th. Synchrony Financial's dividend payout ratio (DPR) is 13.05%.

Wall Street Analysts Forecast Growth

SYF has been the subject of several research analyst reports. Evercore ISI upped their price target on Synchrony Financial from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price target on Synchrony Financial from $49.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Morgan Stanley increased their target price on Synchrony Financial from $37.00 to $40.00 and gave the company an "underweight" rating in a research note on Thursday, October 17th. BMO Capital Markets lowered their target price on Synchrony Financial from $42.00 to $41.00 and set a "market perform" rating for the company in a research note on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Synchrony Financial from $58.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.60.

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.