5,009 Shares in Synchrony Financial (NYSE:SYF) Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC acquired a new position in Synchrony Financial (NYSE:SYF) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,009 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in Synchrony Financial by 0.7% in the first quarter. Fifth Third Bancorp now owns 38,247 shares of the financial services provider’s stock worth $1,649,000 after buying an additional 250 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings in Synchrony Financial by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after buying an additional 262 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in Synchrony Financial by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 90,343 shares of the financial services provider’s stock valued at $3,896,000 after purchasing an additional 265 shares during the last quarter. US Bancorp DE grew its holdings in Synchrony Financial by 0.8% during the fourth quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock valued at $1,329,000 after purchasing an additional 268 shares during the last quarter. Finally, MV Capital Management Inc. grew its holdings in Synchrony Financial by 8.3% during the first quarter. MV Capital Management Inc. now owns 3,509 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE:SYF traded up $1.03 during midday trading on Thursday, reaching $50.91. The company’s stock had a trading volume of 863,674 shares, compared to its average volume of 4,212,509. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $52.67. The company has a market capitalization of $20.12 billion, a P/E ratio of 7.16, a P/E/G ratio of 1.19 and a beta of 1.63. 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 business’s fifty day simple moving average is $45.72 and its 200-day simple moving average is $42.70.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, beating 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 company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the company posted $1.32 earnings per share. As a group, equities research analysts expect that Synchrony Financial will post 5.8 EPS for the current fiscal year.

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

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 5th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

Insider Buying and Selling

In related news, insider Curtis Howse sold 31,562 shares of Synchrony Financial stock in a transaction dated 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 completion of the sale, the insider now directly owns 121,042 shares in the company, valued at $5,446,890. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

SYF has been the topic of several analyst reports. BTIG Research initiated coverage on Synchrony Financial in a report on Friday, June 7th. They set a “buy” rating and a $60.00 price target on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $62.00 price target on shares of Synchrony Financial in a report on Tuesday, June 11th. TD Cowen increased their price target on Synchrony Financial from $49.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Compass Point initiated coverage on Synchrony Financial in a research report on Tuesday, July 16th. They issued a “buy” rating and a $56.00 price objective for the company. Finally, 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 report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and an average price target of $50.50.

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.