Wealth Enhancement Advisory Services LLC Purchases 227 Shares of Synchrony Financial (NYSE:SYF)

Wealth Enhancement Advisory Services LLC grew its position in shares of Synchrony Financial (NYSE:SYF) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,995 shares of the financial services provider’s stock after buying an additional 227 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Synchrony Financial were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in Synchrony Financial in the 1st quarter worth $28,000. Altshuler Shaham Ltd bought a new position in Synchrony Financial in the 2nd quarter worth $31,000. International Assets Investment Management LLC bought a new position in Synchrony Financial in the 2nd quarter worth $33,000. WR Wealth Planners LLC raised its holdings in Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Synchrony Financial in the 2nd quarter worth $39,000. 96.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SYF. TD Cowen raised their target price on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Friday, August 9th. Jefferies Financial Group increased their price target on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird set a $62.00 price target on Synchrony Financial in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Synchrony Financial Trading Up 3.2 %

SYF opened at $56.82 on Wednesday. The firm has a market cap of $22.12 billion, a P/E ratio of 7.42, a P/E/G ratio of 1.10 and a beta of 1.59. Synchrony Financial has a 12 month low of $28.84 and a 12 month high of $57.37. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average of $51.48 and a 200 day moving average of $47.91.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. As a group, research analysts forecast that Synchrony Financial will post 6.28 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial’s payout ratio is currently 13.05%.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial 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 sale, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.

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.