QRG Capital Management Inc. Has $14.87 Million Stock Position in Synchrony Financial (NYSE:SYF)

QRG Capital Management Inc. boosted its stake in Synchrony Financial (NYSE:SYF - Free Report) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,134 shares of the financial services provider's stock after acquiring an additional 10,587 shares during the period. QRG Capital Management Inc. owned 0.07% of Synchrony Financial worth $14,871,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SYF. Headlands Technologies LLC acquired a new position in Synchrony Financial in the 1st quarter valued at approximately $28,000. Altshuler Shaham Ltd acquired a new stake in shares of Synchrony Financial during the second quarter worth $31,000. International Assets Investment Management LLC bought a new position in shares of Synchrony Financial during the 2nd quarter valued at about $33,000. WR Wealth Planners LLC lifted its position in shares of Synchrony Financial by 83.6% in the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider's stock worth $34,000 after purchasing an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Synchrony Financial in the second quarter valued at approximately $39,000. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Up 3.2 %

Shares of SYF traded up $1.76 during midday trading on Tuesday, hitting $56.82. The company had a trading volume of 3,203,760 shares, compared to its average volume of 3,924,050. The company's 50 day moving average price is $51.48 and its 200 day moving average price is $47.91. Synchrony Financial has a 52 week low of $28.84 and a 52 week high of $57.37. The stock has a market cap of $22.12 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 1.10 and a beta of 1.59. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 EPS. On average, equities research analysts predict that Synchrony Financial will post 6.28 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, November 4th. Synchrony Financial's dividend payout ratio is 13.05%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BTIG Research downgraded Synchrony Financial from a "buy" rating to a "neutral" rating in a research note on Monday, September 16th. BMO Capital Markets reduced their price target on shares of Synchrony Financial from $42.00 to $41.00 and set a "market perform" rating for the company in a research report on Thursday, July 18th. TD Cowen upped their price objective on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their target price 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 Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $56.60.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm's stock in a transaction dated 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

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.