Synchrony Financial (NYSE:SYF) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its holdings in shares of Synchrony Financial (NYSE:SYF) by 14.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,400 shares of the financial services provider’s stock after acquiring an additional 2,408 shares during the quarter. Raymond James Trust N.A.’s holdings in Synchrony Financial were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SYF. Price T Rowe Associates Inc. MD lifted its holdings in shares of Synchrony Financial by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,300,576 shares of the financial services provider’s stock valued at $56,082,000 after acquiring an additional 342,979 shares in the last quarter. SVB Wealth LLC lifted its holdings in shares of Synchrony Financial by 2.7% during the 1st quarter. SVB Wealth LLC now owns 12,265 shares of the financial services provider’s stock valued at $529,000 after acquiring an additional 317 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new position in shares of Synchrony Financial during the 1st quarter valued at $177,000. Redwood Investment Management LLC lifted its holdings in Synchrony Financial by 139.0% in the 1st quarter. Redwood Investment Management LLC now owns 35,284 shares of the financial services provider’s stock worth $1,521,000 after buying an additional 20,518 shares in the last quarter. Finally, Hancock Whitney Corp lifted its holdings in Synchrony Financial by 136.5% in the 1st quarter. Hancock Whitney Corp now owns 50,666 shares of the financial services provider’s stock worth $2,185,000 after buying an additional 29,239 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insider Buying and Selling at Synchrony Financial

In other news, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the transaction, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SYF. The Goldman Sachs Group boosted their price objective on shares of Synchrony Financial from $64.00 to $72.50 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Evercore ISI boosted their price objective on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays boosted their price objective on shares of Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

Synchrony Financial Trading Up 1.3 %

Shares of Synchrony Financial stock opened at $65.99 on Monday. The stock has a market capitalization of $25.69 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 0.90 and a beta of 1.59. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The company has a 50-day simple moving average of $55.81 and a 200 day simple moving average of $49.78. Synchrony Financial has a 12-month low of $29.15 and a 12-month high of $67.76.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS. Research analysts expect that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.52%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s payout ratio is presently 13.05%.

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.