Synchrony Financial (NYSE:SYF) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 41.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,813 shares of the financial services provider’s stock after acquiring an additional 7,313 shares during the quarter. Ritholtz Wealth Management’s holdings in Synchrony Financial were worth $1,171,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SYF. Quent Capital LLC increased its holdings in shares of Synchrony Financial by 15.4% during the 1st quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 214 shares in the last quarter. Fifth Third Bancorp increased its holdings in Synchrony Financial by 0.7% in the first quarter. Fifth Third Bancorp now owns 38,247 shares of the financial services provider’s stock valued at $1,649,000 after buying an additional 250 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Synchrony Financial by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after acquiring an additional 262 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Synchrony Financial by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 90,343 shares of the financial services provider’s stock worth $3,896,000 after acquiring an additional 265 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Synchrony Financial by 0.8% during the 4th quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock valued at $1,329,000 after acquiring an additional 268 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYF. Jefferies Financial Group increased their price target on Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Barclays increased their target price on Synchrony Financial from $46.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Baird R W upgraded shares of Synchrony Financial to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Wells Fargo & Company lifted their target price on shares of Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus price target of $50.41.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $50.26 on Tuesday. The firm has a 50 day simple moving average of $48.11 and a 200-day simple moving average of $44.60. The stock has a market cap of $19.86 billion, a price-to-earnings ratio of 7.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.62. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $52.67.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the business posted $1.32 earnings per share. On average, analysts expect that Synchrony Financial will post 5.79 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. Synchrony Financial’s payout ratio is currently 14.35%.

Insiders Place Their Bets

In other 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 value of $3,490,637.54. Following the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. The disclosure for this sale can be found here. 0.33% of the stock is currently 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.