Synchrony Financial (NYSE:SYF) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Synchrony Financial (NYSE:SYF - Free Report) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,061,979 shares of the financial services provider's stock after buying an additional 158,960 shares during the quarter. Victory Capital Management Inc. owned 0.53% of Synchrony Financial worth $102,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners raised its stake in shares of Synchrony Financial by 66.6% in the first quarter. Boston Partners now owns 6,374,260 shares of the financial services provider's stock valued at $274,892,000 after acquiring an additional 2,548,180 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Synchrony Financial by 402.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,520,209 shares of the financial services provider's stock valued at $71,739,000 after buying an additional 1,217,872 shares during the period. AQR Capital Management LLC grew its position in shares of Synchrony Financial by 14.6% during the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider's stock worth $264,917,000 after buying an additional 727,649 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Synchrony Financial by 400.2% during the second quarter. Acadian Asset Management LLC now owns 842,539 shares of the financial services provider's stock worth $39,751,000 after buying an additional 674,093 shares during the period. Finally, Candriam S.C.A. raised its holdings in Synchrony Financial by 1,043.9% in the second quarter. Candriam S.C.A. now owns 655,173 shares of the financial services provider's stock valued at $30,916,000 after acquiring an additional 597,900 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Price Performance

SYF stock opened at $65.13 on Thursday. The company has a market cap of $25.36 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 1.25 and a beta of 1.59. 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 firm has a 50 day moving average of $53.35 and a 200-day moving average of $48.78. Synchrony Financial has a 12-month low of $28.84 and a 12-month high of $67.76.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 EPS. As a group, equities analysts expect that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Cowen increased their price objective on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their target price on Synchrony Financial from $53.00 to $60.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on Synchrony Financial from $49.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. Robert W. Baird set a $62.00 price objective on Synchrony Financial in a research report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $56.60.

Insider Activity at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the transaction, the insider now owns 76,251 shares of the company's stock, valued at $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction on 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 completion of the sale, the insider now owns 76,251 shares of the company's stock, valued at $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated 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 owns 99,743 shares in the company, valued at $5,498,831.59. This trade represents 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 currently owned by corporate insiders.

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.