Principal Financial Group Inc. Buys 10,294 Shares of Synchrony Financial (NYSE:SYF)

Principal Financial Group Inc. increased its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 487,720 shares of the financial services provider's stock after acquiring an additional 10,294 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Synchrony Financial worth $24,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in SYF. Headlands Technologies LLC purchased a new position in Synchrony Financial during the first quarter valued at $28,000. Altshuler Shaham Ltd bought a new position in Synchrony Financial in the 2nd quarter worth about $31,000. International Assets Investment Management LLC purchased a new stake in Synchrony Financial during the 2nd quarter valued at about $33,000. WR Wealth Planners LLC increased its stake in Synchrony Financial by 83.6% during the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider's stock valued at $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 during the 2nd quarter valued at about $39,000. 96.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SYF has been the subject of several analyst reports. Royal Bank of Canada raised their price target on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a "sector perform" rating in a research report on Thursday, October 17th. TD Cowen boosted their price target on Synchrony Financial from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Morgan Stanley increased their price objective on Synchrony Financial from $37.00 to $40.00 and gave the company an "underweight" rating in a research report on Thursday, October 17th. Compass Point boosted their target price on Synchrony Financial from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group upped their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.60.

Synchrony Financial Price Performance

Shares of SYF traded down $0.14 during mid-day trading on Thursday, hitting $64.99. 2,115,763 shares of the stock were exchanged, compared to its average volume of 3,979,504. The firm has a 50-day moving average of $53.35 and a two-hundred day moving average of $48.78. Synchrony Financial has a 52-week low of $28.84 and a 52-week high of $67.76. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $25.30 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 13.98% and a return on equity of 16.64%. The business's revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $1.48 EPS. On average, equities analysts predict that Synchrony Financial will post 6.52 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. Synchrony Financial's dividend payout ratio (DPR) is presently 13.05%.

Insider Activity

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the firm's 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 sale, the insider now directly owns 99,743 shares of the company's stock, valued at approximately $5,498,831.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

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.