Exchange Traded Concepts LLC Grows Position in Synchrony Financial (NYSE:SYF)

Exchange Traded Concepts LLC grew its position in shares of Synchrony Financial (NYSE:SYF) by 7,655.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,139 shares of the financial services provider’s stock after purchasing an additional 16,918 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Synchrony Financial were worth $855,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SYF. Headlands Technologies LLC purchased a new stake in shares of Synchrony Financial during the 1st quarter worth about $28,000. Altshuler Shaham Ltd purchased a new position in Synchrony Financial during the second quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new stake in Synchrony Financial in the second quarter valued at approximately $33,000. WR Wealth Planners LLC increased its position in shares of Synchrony Financial by 83.6% in the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after buying an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Synchrony Financial during the 2nd quarter worth approximately $39,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on SYF shares. The Goldman Sachs Group boosted their price target on shares of Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. BMO Capital Markets reduced their price target on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a research report on Thursday, July 18th. Morgan Stanley lifted their price objective on Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday. Robert W. Baird began coverage on Synchrony Financial in a report on Friday, June 28th. They set an “outperform” rating and a $56.00 target price for the company. Finally, Royal Bank of Canada raised their target price on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.95.

Synchrony Financial Trading Up 0.3 %

Shares of Synchrony Financial stock opened at $56.70 on Friday. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $57.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $22.41 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 1.26 and a beta of 1.61. The stock has a 50 day moving average of $49.23 and a 200 day moving average of $46.50.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the company earned $1.48 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts predict that Synchrony Financial will post 5.81 earnings per share for the current year.

Synchrony Financial Announces Dividend

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 of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. Synchrony Financial’s payout ratio is currently 13.89%.

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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the sale, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’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 transaction of $3,490,637.54. Following the completion of the transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This represents a 0.00 % decrease in their position. 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.