Nemes Rush Group LLC Has $219,000 Stock Holdings in Synchrony Financial (NYSE:SYF)

Nemes Rush Group LLC reduced its position in Synchrony Financial (NYSE:SYF) by 16.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,632 shares of the financial services provider’s stock after selling 905 shares during the period. Nemes Rush Group LLC’s holdings in Synchrony Financial were worth $219,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYF. Dimensional Fund Advisors LP raised its position in shares of Synchrony Financial by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 6,686,486 shares of the financial services provider’s stock valued at $315,381,000 after purchasing an additional 313,128 shares during the period. Boston Partners lifted its position in Synchrony Financial by 66.6% during the first quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after acquiring an additional 2,548,180 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Synchrony Financial by 14.6% during the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock worth $264,917,000 after acquiring an additional 727,649 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Synchrony Financial by 2.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,496,009 shares of the financial services provider’s stock valued at $150,748,000 after purchasing an additional 97,235 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Synchrony Financial by 18.7% during the second quarter. Hsbc Holdings PLC now owns 3,131,599 shares of the financial services provider’s stock worth $147,599,000 after purchasing an additional 492,312 shares during the period. Institutional investors own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

SYF has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a report on Thursday, July 18th. Royal Bank of Canada upped their price target on shares of Synchrony Financial from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $62.00 price objective on shares of Synchrony Financial in a research note on Tuesday, June 11th. Jefferies Financial Group increased their target price on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, The Goldman Sachs Group lifted their price target on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.41.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction dated 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 transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bart Schaller sold 930 shares of the 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 directly 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. 0.33% of the stock is owned by company insiders.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $49.65 on Monday. Synchrony Financial has a one year low of $27.30 and a one year high of $52.67. 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 company has a market cap of $19.62 billion, a price-to-earnings ratio of 7.12, a PEG ratio of 1.13 and a beta of 1.62. The firm has a 50 day simple moving average of $48.17 and a 200 day simple moving average of $45.59.

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, beating the consensus estimate of $1.35 by $0.20. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $1.32 EPS. Research analysts predict 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. Stockholders of record on Monday, August 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Monday, August 5th. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Synchrony Financial 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.