Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Synchrony Financial (NYSE:SYF)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Synchrony Financial (NYSE:SYF) by 34.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,120 shares of the financial services provider’s stock after purchasing an additional 11,723 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Synchrony Financial were worth $2,175,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in Synchrony Financial during the first quarter valued at $28,000. Altshuler Shaham Ltd bought a new position in shares of Synchrony Financial in the 2nd quarter valued at about $31,000. International Assets Investment Management LLC purchased a new position in Synchrony Financial in the second quarter worth about $33,000. WR Wealth Planners LLC grew its position in Synchrony Financial by 83.6% in the second 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 in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Synchrony Financial during the second quarter worth approximately $39,000. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $56.31 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock’s fifty day moving average price is $50.90 and its 200-day moving average price is $47.44. The firm has a market cap of $22.61 billion, a P/E ratio of 8.08, a P/E/G ratio of 1.19 and a beta of 1.61. Synchrony Financial has a 12 month low of $27.68 and a 12 month high of $57.37.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the business posted $1.48 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that Synchrony Financial will post 6.28 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.78%. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the 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 completion of the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. TD Cowen raised their price objective on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price target on shares of Synchrony Financial from $53.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, BMO Capital Markets reduced their price objective on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

Synchrony Financial Company 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.