Synchrony Financial (NYSE:SYF) Shares Acquired by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd boosted its stake in Synchrony Financial (NYSE:SYF) by 417.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,824 shares of the financial services provider’s stock after acquiring an additional 21,642 shares during the period. UniSuper Management Pty Ltd’s holdings in Synchrony Financial were worth $1,157,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CX Institutional acquired a new position in shares of Synchrony Financial in the 4th quarter worth approximately $214,000. Raymond James & Associates boosted its holdings in Synchrony Financial by 29.4% in the fourth quarter. Raymond James & Associates now owns 325,697 shares of the financial services provider’s stock worth $12,438,000 after purchasing an additional 74,080 shares during the period. Planned Solutions Inc. bought a new stake in Synchrony Financial during the fourth quarter valued at $141,000. Meadow Creek Wealth Advisors LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter worth $240,000. Finally, Unison Advisors LLC lifted its position in shares of Synchrony Financial by 0.9% in the 4th quarter. Unison Advisors LLC now owns 101,814 shares of the financial services provider’s stock worth $3,888,000 after buying an additional 859 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Price Performance

Shares of SYF traded down $0.93 during midday trading on Wednesday, reaching $49.88. The stock had a trading volume of 2,126,949 shares, compared to its average volume of 4,234,248. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $19.71 billion, a P/E ratio of 7.29, a P/E/G ratio of 1.19 and a beta of 1.63. The firm’s 50 day moving average price is $45.61 and its 200-day moving average price is $42.65. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $52.67.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the previous year, the company earned $1.32 earnings per share. On average, analysts forecast that Synchrony Financial will post 5.8 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, August 5th. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Synchrony Financial declared that its Board of Directors has authorized a share buyback program on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 5.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

SYF has been the topic of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Wells Fargo & Company increased their price target on Synchrony Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Morgan Stanley reissued an “underweight” rating and issued a $30.00 price target on shares of Synchrony Financial in a report on Wednesday, June 12th. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Finally, Compass Point initiated coverage on Synchrony Financial in a research note on Tuesday, July 16th. They issued a “buy” rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total value of $1,420,290.00. Following the transaction, the insider now owns 121,042 shares of the company’s stock, valued at $5,446,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.33% of the company’s stock.

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.