RWC Asset Management LLP Increases Position in Synchrony Financial (NYSE:SYF)

RWC Asset Management LLP boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,247 shares of the financial services provider’s stock after purchasing an additional 718 shares during the quarter. RWC Asset Management LLP’s holdings in Synchrony Financial were worth $436,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Boston Partners raised its position in shares of Synchrony Financial by 66.6% during the 1st quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after purchasing an additional 2,548,180 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Synchrony Financial by 995.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,599,443 shares of the financial services provider’s stock worth $241,448,000 after buying an additional 5,088,262 shares in the last quarter. Norges Bank acquired a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $182,739,000. Charles Schwab Investment Management Inc. lifted its position in shares of Synchrony Financial by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,588,159 shares of the financial services provider’s stock valued at $137,032,000 after acquiring an additional 165,369 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Synchrony Financial by 2.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,496,009 shares of the financial services provider’s stock worth $150,748,000 after acquiring an additional 97,235 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Insider Buying and Selling

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction 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 approximately $3,563,209.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Synchrony Financial Trading Up 1.0 %

NYSE SYF opened at $50.26 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market cap of $19.86 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 1.18 and a beta of 1.62. The firm has a 50 day simple moving average of $48.11 and a 200-day simple moving average of $44.60. Synchrony Financial has a one year low of $27.30 and a one year high of $52.67.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter last year, the company posted $1.32 EPS. Equities research analysts anticipate that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Analysts Set New Price Targets

SYF has been the topic of a number of research reports. Jefferies Financial Group raised their price objective on Synchrony Financial from $50.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Friday, August 9th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $62.00 price target on shares of Synchrony Financial in a research report on Tuesday, June 11th. Royal Bank of Canada lifted their price objective on Synchrony Financial from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 18th. Finally, The Goldman Sachs Group boosted their price objective on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus target price of $50.41.

About Synchrony Financial

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.