Townsquare Capital LLC Acquires New Shares in Synchrony Financial (NYSE:SYF)

Townsquare Capital LLC acquired a new stake in Synchrony Financial (NYSE:SYF) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,921 shares of the financial services provider’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 292 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in Synchrony Financial during the 2nd quarter valued at $31,000. International Assets Investment Management LLC purchased a new stake in Synchrony Financial during the 2nd quarter valued at $33,000. WR Wealth Planners LLC raised its stake in Synchrony Financial by 83.6% during the 2nd 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 during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Synchrony Financial during the 2nd quarter valued at $39,000. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Stock Up 1.5 %

SYF opened at $67.92 on Friday. The firm has a 50-day simple moving average of $59.05 and a two-hundred day simple moving average of $51.10. Synchrony Financial has a 52 week low of $34.42 and a 52 week high of $69.00. The company has a market capitalization of $26.44 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 0.93 and a beta of 1.63. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data 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 the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Analysts forecast that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Insider Buying and Selling at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the transaction, the insider now directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SYF. Compass Point boosted their target price on shares of Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their target price on shares of Synchrony Financial from $64.00 to $72.50 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Robert W. Baird set a $62.00 target price on shares of Synchrony Financial in a research note on Thursday, October 17th. JMP Securities restated a “market outperform” rating and issued a $60.00 price objective on shares of Synchrony Financial in a research note on Monday, October 14th. Finally, Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $85.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.68.

About Synchrony Financial

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.