Franklin Resources Inc. Buys 203,663 Shares of Synchrony Financial (NYSE:SYF)

Franklin Resources Inc. boosted its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 23.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,078,596 shares of the financial services provider's stock after buying an additional 203,663 shares during the quarter. Franklin Resources Inc. owned 0.28% of Synchrony Financial worth $57,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Southpoint Capital Advisors LP boosted its holdings in Synchrony Financial by 37.9% in the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider's stock valued at $229,448,000 after purchasing an additional 1,265,000 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in Synchrony Financial by 402.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,520,209 shares of the financial services provider's stock valued at $71,739,000 after purchasing an additional 1,217,872 shares in the last quarter. Zurich Insurance Group Ltd FI grew its holdings in Synchrony Financial by 389.8% during the third quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider's stock worth $56,797,000 after acquiring an additional 906,172 shares during the period. Soros Fund Management LLC acquired a new position in shares of Synchrony Financial during the 3rd quarter worth $41,088,000. Finally, AQR Capital Management LLC increased its holdings in Synchrony Financial by 14.6% in the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider's stock valued at $264,917,000 after buying an additional 727,649 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 Curtis Howse sold 21,934 shares of the 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 in the company, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares of the company's stock, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Cowen raised their price target on Synchrony Financial from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Robert W. Baird set a $62.00 price target on Synchrony Financial in a research note on Thursday, October 17th. Jefferies Financial Group raised their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Wells Fargo & Company raised Synchrony Financial from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $61.53.

Synchrony Financial Price Performance

SYF traded down $1.36 on Tuesday, reaching $67.19. The company had a trading volume of 2,933,821 shares, compared to its average volume of 3,924,107. The company has a fifty day moving average of $61.56 and a 200-day moving average of $52.43. The company has a market capitalization of $26.16 billion, a P/E ratio of 8.95, a PEG ratio of 0.82 and a beta of 1.63. Synchrony Financial has a one year low of $35.29 and a one year high of $69.39. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $3.76 billion. During the same quarter last year, the business posted $1.48 earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that Synchrony Financial will post 6.51 earnings per share for the current year.

Synchrony Financial Dividend Announcement

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

Synchrony Financial 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.