CWA Asset Management Group LLC Invests $2.47 Million in Synchrony Financial (NYSE:SYF)

CWA Asset Management Group LLC acquired a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 49,417 shares of the financial services provider's stock, valued at approximately $2,465,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Graypoint LLC increased its stake in shares of Synchrony Financial by 4.0% in the third quarter. Graypoint LLC now owns 4,668 shares of the financial services provider's stock worth $233,000 after buying an additional 181 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Synchrony Financial by 1.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider's stock worth $997,000 after acquiring an additional 227 shares in the last quarter. Wedmont Private Capital increased its position in shares of Synchrony Financial by 3.3% in the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider's stock worth $387,000 after purchasing an additional 242 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Synchrony Financial by 0.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider's stock valued at $2,465,000 after purchasing an additional 251 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Synchrony Financial by 2.7% in the 3rd quarter. Signaturefd LLC now owns 9,877 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 261 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Curtis Howse sold 21,934 shares of the company's stock in a transaction dated 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 in the company, valued at $5,498,831.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction 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 represents a 0.00 % 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 company insiders.

Synchrony Financial Price Performance

SYF stock traded down $0.85 during trading hours on Friday, hitting $63.79. 4,786,578 shares of the stock traded hands, compared to its average volume of 3,971,369. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock has a 50-day simple moving average of $52.41 and a 200 day simple moving average of $48.35. Synchrony Financial has a one year low of $28.84 and a one year high of $67.76. The company has a market cap of $24.84 billion, a P/E ratio of 8.33, a P/E/G ratio of 1.24 and a beta of 1.59.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping 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 for 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 was up 9.8% compared to the same quarter last year. Equities analysts forecast that Synchrony Financial will post 6.42 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial's payout ratio is 13.05%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BTIG Research lowered Synchrony Financial from a "buy" rating to a "neutral" rating in a report on Monday, September 16th. BMO Capital Markets dropped their price target on 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. Wells Fargo & Company lifted their price objective on shares of Synchrony Financial from $53.00 to $60.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. 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 research note on Thursday, October 17th. Finally, Evercore ISI lifted their target price on Synchrony Financial from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Synchrony Financial currently has an average rating of "Moderate Buy" and a consensus price target of $56.60.

About Synchrony Financial

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.