Seven Eight Capital LP Invests $1.20 Million in Synchrony Financial (NYSE:SYF)

Seven Eight Capital LP purchased a new stake in Synchrony Financial (NYSE:SYF) in the 2nd quarter, HoldingsChannel reports. The firm purchased 25,409 shares of the financial services provider’s stock, valued at approximately $1,199,000.

A number of other large investors also recently bought and sold shares of SYF. Principal Securities Inc. purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $60,000. Independent Advisor Alliance purchased a new stake in Synchrony Financial in the 4th quarter worth $245,000. Norges Bank purchased a new stake in Synchrony Financial in the 4th quarter worth $182,739,000. PNC Financial Services Group Inc. raised its position in Synchrony Financial by 21.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 58,603 shares of the financial services provider’s stock worth $2,238,000 after acquiring an additional 10,242 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in Synchrony Financial by 4.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,862 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 301 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Price Performance

NYSE:SYF opened at $51.04 on Friday. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $52.67. The stock’s fifty day moving average is $48.35 and its two-hundred day moving average is $45.24. The company has a market capitalization of $20.17 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.11 and a beta of 1.62. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09.

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

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. Synchrony Financial’s payout ratio is currently 14.35%.

Analysts Set New Price Targets

Several research firms recently weighed in on SYF. Morgan Stanley restated an “underweight” rating and set a $30.00 price target on shares of Synchrony Financial in a research report on Wednesday, June 12th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 9th. BTIG Research cut Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday. JMP Securities increased their price objective on Synchrony Financial from $49.00 to $60.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. Finally, Baird R W raised shares of Synchrony Financial to a “strong-buy” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and an average target price of $50.41.

Insider Activity at Synchrony Financial

In other Synchrony Financial 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 transaction of $3,490,637.54. Following the transaction, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’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 owns 76,251 shares in the company, valued at approximately $3,563,209.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bart Schaller sold 930 shares of the stock in a transaction dated Thursday, August 1st. The stock was 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 in the company, valued at approximately $2,510,987.60. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

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.