Synchrony Financial (NYSE:SYF) Stake Increased by Verition Fund Management LLC

Verition Fund Management LLC boosted its stake in Synchrony Financial (NYSE:SYF - Free Report) by 680.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,961 shares of the financial services provider's stock after acquiring an additional 29,611 shares during the period. Verition Fund Management LLC's holdings in Synchrony Financial were worth $1,694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Graypoint LLC raised its stake in shares of Synchrony Financial by 4.0% during the third quarter. Graypoint LLC now owns 4,668 shares of the financial services provider's stock worth $233,000 after purchasing an additional 181 shares during the last quarter. Empirical Finance LLC increased its stake in Synchrony Financial by 1.3% in the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider's stock valued at $773,000 after buying an additional 204 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Synchrony Financial by 1.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider's stock worth $997,000 after buying an additional 227 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Synchrony Financial by 3.3% in the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider's stock worth $387,000 after acquiring an additional 242 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Synchrony Financial by 0.5% in the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider's stock valued at $2,465,000 after acquiring an additional 251 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 34,163 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction on 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 sale, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. This trade represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Synchrony Financial Trading Up 1.5 %

NYSE SYF traded up $1.00 during mid-day trading on Friday, reaching $67.92. 3,423,147 shares of the stock were exchanged, compared to its average volume of 3,582,129. The business's fifty day simple moving average is $59.42 and its 200 day simple moving average is $51.31. 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 stock has a market capitalization of $26.44 billion, a PE ratio of 8.87, a PEG ratio of 0.92 and a beta of 1.63. Synchrony Financial has a 1-year low of $34.42 and a 1-year high of $69.00.

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, beating the consensus estimate of $1.77 by $0.17. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 earnings per share. On average, research analysts anticipate that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.47%. Synchrony Financial's dividend payout ratio is currently 13.05%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Evercore ISI increased their price target on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. 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 report on Thursday, October 17th. JMP Securities reaffirmed a "market outperform" rating and set a $60.00 price objective on shares of Synchrony Financial in a report on Monday, October 14th. Royal Bank of Canada boosted their target price on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 17th. Finally, BTIG Research cut shares of Synchrony Financial from a "buy" rating to a "neutral" rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.68.

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.