Thoroughbred Financial Services LLC Raises Holdings in Synchrony Financial (NYSE:SYF)

Thoroughbred Financial Services LLC raised its holdings in shares of Synchrony Financial (NYSE:SYF) by 102.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,648 shares of the financial services provider’s stock after purchasing an additional 10,931 shares during the period. Thoroughbred Financial Services LLC’s holdings in Synchrony Financial were worth $1,021,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in Synchrony Financial during the 1st quarter valued at $28,000. International Assets Investment Management LLC bought a new position in shares of Synchrony Financial during the 2nd quarter valued at $33,000. WR Wealth Planners LLC lifted its holdings in shares of 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. Ashton Thomas Private Wealth LLC bought a new position in shares of Synchrony Financial during the 2nd quarter valued at $39,000. Finally, Family Firm Inc. bought a new position in shares of Synchrony Financial during the 2nd quarter valued at $42,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Trading Up 1.6 %

SYF opened at $47.13 on Monday. The firm has a market cap of $18.63 billion, a P/E ratio of 6.76, a P/E/G ratio of 1.09 and a beta of 1.62. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $52.67. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average of $48.29 and a 200 day moving average of $45.07.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. During the same quarter in the prior year, the firm posted $1.32 earnings per share. As a group, research analysts forecast that Synchrony Financial will post 5.79 EPS for the current year.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were issued a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Synchrony Financial’s payout ratio is 14.35%.

Wall Street Analysts Forecast Growth

SYF has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on Synchrony Financial from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday, July 18th. Robert W. Baird began coverage on Synchrony Financial in a report on Friday, June 28th. They issued an “outperform” rating and a $56.00 target price on the stock. The Goldman Sachs Group raised their target price on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $62.00 target price on shares of Synchrony Financial in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.41.

Insider Activity at Synchrony Financial

In related news, insider Bart Schaller sold 930 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s 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 sale, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

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.