Atomi Financial Group Inc. Takes $244,000 Position in Synchrony Financial (NYSE:SYF)

Atomi Financial Group Inc. purchased a new position in shares of Synchrony Financial (NYSE:SYF) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,882 shares of the financial services provider’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in shares of Synchrony Financial in the first quarter valued at approximately $28,000. Altshuler Shaham Ltd acquired a new position in Synchrony Financial in the 2nd quarter valued at $31,000. International Assets Investment Management LLC purchased a new position in Synchrony Financial during the 2nd quarter worth $33,000. WR Wealth Planners LLC lifted its stake in shares of Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Synchrony Financial in the second quarter valued at about $39,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Up 3.0 %

Shares of NYSE:SYF opened at $53.15 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $21.01 billion, a P/E ratio of 7.38, a P/E/G ratio of 1.21 and a beta of 1.61. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $53.30. The stock’s fifty day simple moving average is $48.39 and its 200-day simple moving average is $46.21.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 13.52% and a return on equity of 16.06%. During the same period in the prior year, the firm earned $1.32 EPS. As a group, equities research analysts forecast that Synchrony Financial will post 5.81 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 1.88%. Synchrony Financial’s payout ratio is currently 13.89%.

Insider Buying and Selling at Synchrony Financial

In other news, 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 transaction of $47,281.20. Following the completion of the transaction, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 completion of the sale, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Synchrony Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Evercore ISI reduced their price target on Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating for the company in a report on Monday, October 7th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. JMP Securities raised their target price on Synchrony Financial from $49.00 to $60.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Finally, Baird R W raised shares of Synchrony Financial to a “strong-buy” rating in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and an average price target of $52.40.

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.