Principal Financial Group Inc. Has $24.33 Million Stake in Synchrony Financial (NYSE:SYF)

Principal Financial Group Inc. lifted its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 487,720 shares of the financial services provider's stock after purchasing an additional 10,294 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Synchrony Financial worth $24,327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. boosted its position in Synchrony Financial by 10.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 14,719 shares of the financial services provider's stock valued at $733,000 after buying an additional 1,398 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Synchrony Financial by 23.3% during the third quarter. Franklin Resources Inc. now owns 1,078,596 shares of the financial services provider's stock valued at $57,910,000 after acquiring an additional 203,663 shares during the period. Synovus Financial Corp boosted its holdings in Synchrony Financial by 18.6% in the third quarter. Synovus Financial Corp now owns 9,459 shares of the financial services provider's stock valued at $472,000 after acquiring an additional 1,482 shares during the last quarter. Tidal Investments LLC increased its position in Synchrony Financial by 88.3% in the third quarter. Tidal Investments LLC now owns 66,361 shares of the financial services provider's stock worth $3,310,000 after purchasing an additional 31,124 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Synchrony Financial during the 3rd quarter valued at about $217,000. Institutional investors and hedge funds own 96.48% of the company's stock.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of Synchrony Financial 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 completion of the transaction, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were 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 directly owns 127,587 shares of the company's stock, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Synchrony Financial Stock Up 0.3 %

Shares of NYSE SYF traded up $0.19 during midday trading on Thursday, reaching $66.81. The company's stock had a trading volume of 1,622,933 shares, compared to its average volume of 3,935,483. The stock has a 50 day simple moving average of $63.52 and a 200-day simple moving average of $53.55. 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 market capitalization of $26.01 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 0.82 and a beta of 1.63. Synchrony Financial has a fifty-two week low of $35.29 and a fifty-two week high of $69.39.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly 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 firm had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. Equities research analysts predict that Synchrony Financial will post 6.51 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial's dividend payout ratio (DPR) is 13.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SYF shares. Morgan Stanley upgraded shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and lifted their price target for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. Barclays lifted their target price on shares of Synchrony Financial from $49.00 to $59.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their price target on Synchrony Financial from $58.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. JMP Securities reaffirmed a "market outperform" rating and set a $60.00 price objective on shares of Synchrony Financial in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. raised Synchrony Financial from a "neutral" rating to an "overweight" rating and increased their target price for the company from $59.00 to $72.00 in a research note on Monday, December 9th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.63.

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.