Lake Street Private Wealth LLC Trims Stock Position in Synchrony Financial (NYSE:SYF)

Lake Street Private Wealth LLC cut its position in Synchrony Financial (NYSE:SYF) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,943 shares of the financial services provider’s stock after selling 245 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Synchrony Financial were worth $247,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Synchrony Financial by 18.5% in the fourth quarter. Wellington Management Group LLP now owns 65,514 shares of the financial services provider’s stock worth $2,502,000 after purchasing an additional 10,207 shares during the period. Park Avenue Securities LLC grew its position in Synchrony Financial by 5.0% during the first quarter. Park Avenue Securities LLC now owns 12,161 shares of the financial services provider’s stock worth $524,000 after buying an additional 576 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Synchrony Financial in the 1st quarter worth about $60,000. Signet Financial Management LLC raised its holdings in shares of Synchrony Financial by 3.7% in the 1st quarter. Signet Financial Management LLC now owns 46,252 shares of the financial services provider’s stock valued at $1,994,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Synchrony Financial by 11.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,036 shares of the financial services provider’s stock valued at $648,000 after acquiring an additional 1,530 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Insider Transactions at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction dated 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 transaction, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SYF shares. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Friday, August 9th. Evercore ISI dropped their price objective on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Morgan Stanley increased their target price on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their price target on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price objective on Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.25.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $55.00 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.06. The firm has a market cap of $21.74 billion, a P/E ratio of 7.18, a P/E/G ratio of 1.30 and a beta of 1.61. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $57.26. The firm has a 50-day moving average of $50.01 and a 200-day moving average of $46.94.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. Sell-side analysts expect that Synchrony Financial will post 6.09 EPS for the current year.

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.