Franklin Resources Inc. Acquires 203,663 Shares of Synchrony Financial (NYSE:SYF)

Franklin Resources Inc. boosted its holdings in Synchrony Financial (NYSE:SYF) by 23.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,078,596 shares of the financial services provider’s stock after purchasing an additional 203,663 shares during the period. Franklin Resources Inc.’s holdings in Synchrony Financial were worth $57,910,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Synovus Financial Corp increased its stake in Synchrony Financial by 18.6% in the 3rd quarter. Synovus Financial Corp now owns 9,459 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 1,482 shares during the period. Tidal Investments LLC grew its stake in shares of Synchrony Financial by 88.3% in the third quarter. Tidal Investments LLC now owns 66,361 shares of the financial services provider’s stock worth $3,310,000 after purchasing an additional 31,124 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Synchrony Financial during the 3rd quarter valued at about $217,000. World Investment Advisors LLC bought a new position in shares of Synchrony Financial during the third quarter valued at approximately $205,000. Finally, Sanctuary Advisors LLC raised its holdings in Synchrony Financial by 14.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 124,903 shares of the financial services provider’s stock worth $6,230,000 after purchasing an additional 15,733 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Stock Up 0.7 %

Shares of SYF stock opened at $68.55 on Tuesday. The company has a market capitalization of $26.69 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 0.82 and a beta of 1.63. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The company’s fifty day moving average price is $61.56 and its 200-day moving average price is $52.43. Synchrony Financial has a one year low of $35.29 and a one year high of $69.39.

Synchrony Financial (NYSE:SYF) last announced 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. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 earnings per share. Sell-side analysts expect that Synchrony Financial will post 6.51 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $0.25 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.46%. Synchrony Financial’s payout ratio is 13.05%.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now owns 127,587 shares of the company’s stock, valued at $8,291,879.13. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. This represents 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.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SYF shares. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley boosted their price objective on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised their target price on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. BTIG Research lowered Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of Synchrony Financial in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.53.

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.