Meeder Asset Management Inc. Grows Position in Synchrony Financial (NYSE:SYF)

Meeder Asset Management Inc. raised its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 1,166.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 53,348 shares of the financial services provider's stock after purchasing an additional 49,136 shares during the period. Meeder Asset Management Inc.'s holdings in Synchrony Financial were worth $2,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in Synchrony Financial in the 1st quarter valued at $213,000. Orion Portfolio Solutions LLC lifted its position in shares of Synchrony Financial by 16.3% during the first quarter. Orion Portfolio Solutions LLC now owns 35,286 shares of the financial services provider's stock valued at $1,522,000 after purchasing an additional 4,935 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Synchrony Financial by 9.4% during the first quarter. Acadian Asset Management LLC now owns 168,446 shares of the financial services provider's stock worth $7,260,000 after purchasing an additional 14,427 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in Synchrony Financial in the 1st quarter worth about $689,000. Finally, UniSuper Management Pty Ltd increased its stake in Synchrony Financial by 417.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 26,824 shares of the financial services provider's stock valued at $1,157,000 after buying an additional 21,642 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Price Performance

NYSE SYF traded down $0.40 on Tuesday, hitting $63.65. The stock had a trading volume of 4,105,814 shares, compared to its average volume of 3,981,904. The firm has a 50-day moving average of $54.69 and a 200-day moving average of $49.36. The company has a market capitalization of $24.78 billion, a price-to-earnings ratio of 8.31, 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 quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a 52-week low of $29.15 and a 52-week high of $67.76.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 earnings per share. Equities analysts expect that Synchrony Financial will post 6.52 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.57%. Synchrony Financial's payout ratio is presently 13.05%.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Mothner sold 34,163 shares of the business'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 completion of the sale, the insider now owns 127,587 shares of the company's stock, valued at $8,291,879.13. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 target price on shares of Synchrony Financial in a report on Monday, October 14th. TD Cowen upped their price objective on Synchrony Financial from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. StockNews.com upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Wednesday, October 9th. Morgan Stanley increased their price target on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an "underweight" rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $57.43.

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.