Synchrony Financial (NYSE:SYF) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd increased its holdings in Synchrony Financial (NYSE:SYF) by 713.0% during the second quarter, HoldingsChannel.com reports. The fund owned 66,094 shares of the financial services provider’s stock after buying an additional 57,964 shares during the period. XTX Topco Ltd’s holdings in Synchrony Financial were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Swedbank AB grew its position in Synchrony Financial by 23.8% in the 2nd quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock valued at $4,694,000 after buying an additional 19,098 shares during the last quarter. Cetera Investment Advisers purchased a new position in Synchrony Financial in the 1st quarter valued at $2,192,000. Nordea Investment Management AB grew its position in Synchrony Financial by 33.5% in the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock valued at $115,266,000 after buying an additional 674,366 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Synchrony Financial by 98.6% during the 1st quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock worth $1,029,000 after purchasing an additional 11,846 shares in the last quarter. Finally, Sei Investments Co. boosted 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 in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SYF shares. Royal Bank of Canada boosted their target price on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 18th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Baird R W raised Synchrony Financial to a “strong-buy” rating in a report on Friday, June 28th. Compass Point began coverage on shares of Synchrony Financial in a report on Tuesday, July 16th. They issued a “buy” rating and a $56.00 target price on the stock. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Synchrony Financial in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.41.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $48.89 on Thursday. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $52.67. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 1.11 and a beta of 1.62. The stock’s 50 day moving average price is $48.31 and its 200 day moving average price is $45.20. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the company posted $1.32 EPS. Equities research analysts anticipate that Synchrony Financial will post 5.79 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently disclosed 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 yield of 2.05%. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Insider Buying and Selling at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The shares were 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 in the company, valued at approximately $3,563,209.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bart Schaller sold 930 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 of the company’s stock, valued at approximately $2,510,987.60. The disclosure for this sale can be found here. Corporate 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.