Stifel Financial Corp increased its position in Synchrony Financial (NYSE:SYF - Free Report) by 22.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,841 shares of the financial services provider's stock after acquiring an additional 20,410 shares during the quarter. Stifel Financial Corp's holdings in Synchrony Financial were worth $5,479,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in shares of Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 292 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Synchrony Financial during the second quarter worth $31,000. International Assets Investment Management LLC bought a new stake in shares of Synchrony Financial during the second quarter worth $33,000. WR Wealth Planners LLC lifted its position in shares of Synchrony Financial by 83.6% during 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 during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Synchrony Financial during the second quarter worth $39,000. 96.48% of the stock is owned by hedge funds and other institutional investors.
Synchrony Financial Stock Performance
Shares of Synchrony Financial stock traded down $0.47 on Friday, reaching $68.06. 2,035,754 shares of the stock were exchanged, compared to its average volume of 3,199,299. 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 has a twelve month low of $35.29 and a twelve month high of $69.39. The firm has a market capitalization of $26.50 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 0.82 and a beta of 1.63. The business has a 50 day moving average price of $61.22 and a two-hundred day moving average price of $52.18.
Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results 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. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The company's revenue was up 9.8% compared to the same quarter last year. Analysts anticipate that Synchrony Financial will post 6.51 earnings per share for the current fiscal year.
Synchrony Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial's dividend payout ratio (DPR) is 13.05%.
Insider Buying and Selling
In other news, insider Jonathan S. Mothner sold 34,163 shares of the company'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 transaction of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares of the company's stock, valued at $8,291,879.13. This represents a 21.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Curtis Howse sold 21,934 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the transaction, the insider now directly owns 99,743 shares of the company's stock, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on SYF shares. Robert W. Baird set a $62.00 target price on Synchrony Financial in a research report on Thursday, October 17th. Barclays raised their price target on Synchrony Financial from $49.00 to $59.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their price target on Synchrony Financial from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Compass Point raised their price target on Synchrony Financial from $60.00 to $77.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group raised their price target on Synchrony Financial from $64.00 to $72.50 and gave the company a "buy" rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.53.
View Our Latest Report on SYF
Synchrony Financial Company Profile
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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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