FCG Investment Co Buys Shares of 21,119 Synchrony Financial (NYSE:SYF)

FCG Investment Co bought a new stake in Synchrony Financial (NYSE:SYF) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 21,119 shares of the financial services provider’s stock, valued at approximately $1,053,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SYF. Tributary Capital Management LLC boosted its stake in shares of Synchrony Financial by 39.1% in the third quarter. Tributary Capital Management LLC now owns 9,600 shares of the financial services provider’s stock valued at $479,000 after buying an additional 2,700 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Synchrony Financial by 1.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock worth $997,000 after purchasing an additional 227 shares in the last quarter. Forsta AP Fonden boosted its position in Synchrony Financial by 4.8% during the third quarter. Forsta AP Fonden now owns 190,300 shares of the financial services provider’s stock worth $9,492,000 after purchasing an additional 8,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Synchrony Financial by 34.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,120 shares of the financial services provider’s stock worth $2,175,000 after purchasing an additional 11,723 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in Synchrony Financial by 9.8% during the third quarter. Lake Street Advisors Group LLC now owns 5,481 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 489 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SYF. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Royal Bank of Canada boosted their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 17th. Robert W. Baird set a $62.00 price target on Synchrony Financial in a report on Thursday, October 17th. Finally, Morgan Stanley boosted their price target on Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and an average price target of $56.25.

Insider Transactions at Synchrony Financial

In other news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the sale, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Down 0.2 %

NYSE SYF opened at $55.05 on Monday. The stock has a market cap of $22.10 billion, a PE ratio of 7.91, a P/E/G ratio of 1.19 and a beta of 1.61. Synchrony Financial has a fifty-two week low of $27.68 and a fifty-two week high of $57.26. The business has a 50 day moving average price of $50.37 and a two-hundred day moving average price of $47.16. 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 results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the business earned $1.48 EPS. Synchrony Financial’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Synchrony Financial will post 6.28 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial’s payout ratio is 14.35%.

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.