Kingsview Wealth Management LLC Takes Position in Synchrony Financial (NYSE:SYF)

Kingsview Wealth Management LLC bought a new stake in Synchrony Financial (NYSE:SYF) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 11,024 shares of the financial services provider’s stock, valued at approximately $550,000.

A number of other institutional investors have also modified their holdings of SYF. Cerity Partners LLC grew its position in shares of Synchrony Financial by 40.2% during the 3rd quarter. Cerity Partners LLC now owns 129,422 shares of the financial services provider’s stock valued at $6,456,000 after buying an additional 37,101 shares during the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of Synchrony Financial during the 3rd quarter valued at about $334,000. Raymond James Trust N.A. grew its position in shares of Synchrony Financial by 14.2% during the 3rd quarter. Raymond James Trust N.A. now owns 19,400 shares of the financial services provider’s stock valued at $968,000 after buying an additional 2,408 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Synchrony Financial by 5.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 203,988 shares of the financial services provider’s stock valued at $10,175,000 after buying an additional 9,671 shares during the last quarter. Finally, Foundry Partners LLC grew its position in shares of Synchrony Financial by 25.4% during the 3rd quarter. Foundry Partners LLC now owns 385,450 shares of the financial services provider’s stock valued at $19,226,000 after buying an additional 78,090 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SYF shares. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, August 9th. BTIG Research cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Compass Point upped their target price on shares of Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of Synchrony Financial in a research report on Monday, October 14th. Finally, Robert W. Baird set a $62.00 target price on shares of Synchrony Financial in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.43.

Synchrony Financial Stock Down 0.1 %

SYF stock opened at $67.22 on Thursday. Synchrony Financial has a 12 month low of $29.65 and a 12 month high of $67.76. The firm has a market cap of $26.17 billion, a PE ratio of 8.78, a P/E/G ratio of 0.93 and a beta of 1.59. The firm has a 50 day simple moving average of $56.94 and a 200 day simple moving average of $50.20. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF) last released its 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 period in the prior year, the business earned $1.48 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

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

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

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.