Synchrony Financial (NYSE:SYF) Shares Bought by Diversified Trust Co

Diversified Trust Co lifted its holdings in shares of Synchrony Financial (NYSE:SYF) by 136.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 54,370 shares of the financial services provider’s stock after buying an additional 31,399 shares during the period. Diversified Trust Co’s holdings in Synchrony Financial were worth $2,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV raised its position in Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 390 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Synchrony Financial in the 1st quarter valued at about $60,000. Brown Brothers Harriman & Co. boosted its holdings in Synchrony Financial by 56.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after buying an additional 522 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Synchrony Financial during the 4th quarter worth approximately $55,000. Finally, Principal Securities Inc. acquired a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $60,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Up 1.9 %

NYSE SYF opened at $48.11 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23. The stock has a market capitalization of $19.32 billion, a P/E ratio of 6.90, a PEG ratio of 1.10 and a beta of 1.63. The firm’s 50-day moving average is $44.11 and its two-hundred day moving average is $41.30. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $48.36.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same period last year, the firm posted $1.35 earnings per share. On average, sell-side analysts anticipate that Synchrony Financial will post 5.71 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Synchrony Financial declared that its board has approved a stock buyback plan on Wednesday, April 24th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 5.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on SYF. Baird R W upgraded Synchrony Financial to a “strong-buy” rating in a research report on Friday. Morgan Stanley reiterated an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a research report on Wednesday, June 12th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $62.00 price target on shares of Synchrony Financial in a research report on Tuesday, June 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Synchrony Financial in a research note on Wednesday, March 6th. Finally, Robert W. Baird started coverage on shares of Synchrony Financial in a research note on Friday. They issued an “outperform” rating and a $56.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.10.

Insider Activity

In related news, insider Curtis Howse sold 31,562 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the transaction, the insider now owns 121,042 shares of the company’s stock, valued at approximately $5,446,890. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

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.