Pathstone Holdings LLC Grows Holdings in Synchrony Financial (NYSE:SYF)

Pathstone Holdings LLC raised its stake in Synchrony Financial (NYSE:SYF) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,785 shares of the financial services provider’s stock after buying an additional 493 shares during the period. Pathstone Holdings LLC’s holdings in Synchrony Financial were worth $1,885,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Synchrony Financial by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,300,576 shares of the financial services provider’s stock worth $56,082,000 after purchasing an additional 342,979 shares in the last quarter. SVB Wealth LLC grew its position in Synchrony Financial by 2.7% during the first quarter. SVB Wealth LLC now owns 12,265 shares of the financial services provider’s stock valued at $529,000 after acquiring an additional 317 shares during the last quarter. Hancock Whitney Corp raised its stake in shares of Synchrony Financial by 136.5% during the first quarter. Hancock Whitney Corp now owns 50,666 shares of the financial services provider’s stock worth $2,185,000 after acquiring an additional 29,239 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Synchrony Financial by 69,554.8% in the 1st quarter. Plato Investment Management Ltd now owns 29,255 shares of the financial services provider’s stock worth $1,261,000 after acquiring an additional 29,213 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Synchrony Financial in the 1st quarter worth approximately $3,465,000. 96.48% of the stock is owned by institutional investors.

Insider Transactions at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now directly owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of analyst reports. Evercore ISI lifted their target price on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price objective on shares of Synchrony Financial in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley lifted their price target on Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada increased their price objective on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research note on Thursday, October 17th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Synchrony Financial Stock Up 0.3 %

Shares of Synchrony Financial stock opened at $67.25 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a twelve month low of $29.15 and a twelve month high of $67.76. The company has a market cap of $26.18 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 0.91 and a beta of 1.59. The company’s 50 day moving average is $56.57 and its 200 day moving average is $50.08.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.17. The firm had revenue of $3.81 billion for 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 company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 EPS. Research analysts anticipate that Synchrony Financial will post 6.52 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s payout ratio is currently 13.05%.

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.