Victory Capital Management Inc. Grows Stake in Synchrony Financial (NYSE:SYF)

Victory Capital Management Inc. lifted its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 8.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 SEC.

Several other large investors also recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new stake in shares of Synchrony Financial during the 1st quarter valued at $213,000. Envestnet Portfolio Solutions Inc. bought a new stake in Synchrony Financial during the first quarter worth approximately $253,000. Sei Investments Co. lifted its position in shares of Synchrony Financial by 52.6% during the 1st quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider's stock worth $21,134,000 after purchasing an additional 168,920 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Synchrony Financial in the first quarter worth $28,000. Finally, State Board of Administration of Florida Retirement System grew its position in Synchrony Financial by 9.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 651,187 shares of the financial services provider's stock worth $28,079,000 after buying an additional 56,145 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Price Performance

SYF stock traded down $0.24 during mid-day trading on Thursday, reaching $64.89. 3,790,795 shares of the company's stock were exchanged, compared to its average volume of 3,987,540. The company has a market cap of $25.26 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59. The stock's 50 day moving average is $53.35 and its 200 day moving average is $48.78. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. 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 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. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $3.76 billion. During the same quarter last year, the firm earned $1.48 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Synchrony Financial will post 6.52 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a dividend of $0.25 per share. The ex-dividend date 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 is presently 13.05%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the business's stock in a transaction 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 18.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm's 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 completion of the sale, the insider now owns 76,251 shares of the company's stock, valued at $3,563,209.23. This trade represents a 49.49 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley upped their price target on Synchrony Financial from $37.00 to $40.00 and gave the company an "underweight" rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their target price on Synchrony Financial from $53.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. TD Cowen upped their price target on Synchrony Financial from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price target on Synchrony Financial from $49.00 to $56.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $60.00 price target on shares of Synchrony Financial in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.60.

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.