Summit Global Investments Takes $918,000 Position in Synchrony Financial (NYSE:SYF)

Summit Global Investments bought a new stake in Synchrony Financial (NYSE:SYF - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 18,402 shares of the financial services provider's stock, valued at approximately $918,000.

Other large investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Synchrony Financial during the first quarter valued at approximately $28,000. Altshuler Shaham Ltd acquired a new position in shares of Synchrony Financial during the second quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new position in shares of Synchrony Financial during the second quarter valued at $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 buying an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Synchrony Financial during the second quarter worth approximately $39,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the 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 sale, the insider now directly owns 76,251 shares of the company's stock, 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 can be accessed through this hyperlink. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 76,251 shares of the company's stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays raised 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. Compass Point raised their price objective on shares of Synchrony Financial from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on Synchrony Financial from $49.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, July 18th. BTIG Research lowered Synchrony Financial from a "buy" rating to a "neutral" rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group upped their price objective on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.60.

Synchrony Financial Price Performance

SYF traded down $0.85 during trading on Friday, reaching $63.79. 4,786,578 shares of the company were exchanged, compared to its average volume of 3,971,369. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The company has a market cap of $24.84 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 1.24 and a beta of 1.59. Synchrony Financial has a 12-month low of $28.84 and a 12-month high of $67.76. The company's 50-day moving average is $52.41 and its two-hundred day moving average is $48.35.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.17. The business 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 business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 EPS. Research analysts forecast that Synchrony Financial will post 6.42 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial's dividend payout ratio (DPR) is presently 13.05%.

About Synchrony Financial

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.