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Swedbank AB Purchases 19,098 Shares of Synchrony Financial (NYSE:SYF)

Synchrony Financial logo with Finance background

Swedbank AB boosted its position in Synchrony Financial (NYSE:SYF - Free Report) by 23.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,461 shares of the financial services provider's stock after purchasing an additional 19,098 shares during the period. Swedbank AB's holdings in Synchrony Financial were worth $4,694,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in shares of Synchrony Financial in the first quarter valued at $28,000. Versant Capital Management Inc increased its holdings in shares of Synchrony Financial by 786.6% in the second quarter. Versant Capital Management Inc now owns 1,055 shares of the financial services provider's stock valued at $50,000 after buying an additional 936 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Synchrony Financial in the fourth quarter valued at $55,000. Brown Brothers Harriman & Co. increased its holdings in shares of Synchrony Financial by 56.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider's stock valued at $55,000 after buying an additional 522 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Synchrony Financial in the fourth quarter valued at $60,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets cut their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a "market perform" rating on the stock in a research note on Thursday, July 18th. Morgan Stanley reissued an "underweight" rating and set a $30.00 target price on shares of Synchrony Financial in a research note on Wednesday, June 12th. BTIG Research initiated coverage on shares of Synchrony Financial in a research note on Friday, June 7th. They set a "buy" rating and a $60.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Synchrony Financial from $46.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, July 8th. Finally, StockNews.com raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Synchrony Financial presently has a consensus rating of "Moderate Buy" and an average target price of $50.41.

Get Our Latest Analysis on SYF

Insider Activity

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company's stock, valued at $2,510,987.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

Synchrony Financial Stock Performance

Shares of SYF traded up $0.73 during trading hours on Friday, reaching $46.62. 2,643,190 shares of the company traded hands, compared to its average volume of 3,508,537. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $52.67. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market cap of $18.43 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 1.08 and a beta of 1.63. The stock's fifty day moving average is $47.01 and its 200 day moving average is $43.85.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.20. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. During the same quarter last year, the business posted $1.32 earnings per share. Equities research analysts anticipate that Synchrony Financial will post 5.8 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.15%. Synchrony Financial's dividend payout ratio (DPR) is currently 14.35%.

Synchrony Financial declared that its Board of Directors has authorized a share repurchase program on Wednesday, April 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Synchrony Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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