Caxton Associates LP Acquires 8,521 Shares of Synchrony Financial (NYSE:SYF)

Caxton Associates LP raised its holdings in shares of Synchrony Financial (NYSE:SYF) by 10.2% during the second quarter, HoldingsChannel reports. The fund owned 92,200 shares of the financial services provider’s stock after purchasing an additional 8,521 shares during the quarter. Caxton Associates LP’s holdings in Synchrony Financial were worth $4,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in Synchrony Financial during the 1st quarter worth about $28,000. Altshuler Shaham Ltd purchased a new stake in shares of Synchrony Financial in the second quarter worth about $31,000. International Assets Investment Management LLC bought a new position in shares of Synchrony Financial in the second quarter valued at approximately $33,000. WR Wealth Planners LLC grew its stake in Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Synchrony Financial during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF opened at $48.21 on Wednesday. The company has a 50-day simple moving average of $48.29 and a two-hundred day simple moving average of $45.47. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $19.05 billion, a PE ratio of 6.92, a price-to-earnings-growth ratio of 1.17 and a beta of 1.62. Synchrony Financial has a one year low of $27.30 and a one year high of $52.67.

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

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Wall Street Analysts Forecast Growth

SYF has been the subject of several analyst reports. JMP Securities raised their price target on shares of Synchrony Financial from $49.00 to $60.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Royal Bank of Canada boosted their target price on Synchrony Financial from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 18th. Jefferies Financial Group boosted their price target on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $62.00 price objective on shares of Synchrony Financial in a research report on Tuesday, June 11th. Finally, BTIG Research lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.41.

Insider Buying and Selling

In related news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial 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 transaction, 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 this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’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 completion of the sale, the insider now directly owns 76,251 shares in the company, valued at $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.