QRG Capital Management Inc. Purchases 10,587 Shares of Synchrony Financial (NYSE:SYF)

QRG Capital Management Inc. raised its position in Synchrony Financial (NYSE:SYF) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,134 shares of the financial services provider’s stock after buying an additional 10,587 shares during the quarter. QRG Capital Management Inc. owned 0.07% of Synchrony Financial worth $14,871,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Synchrony Financial during the first quarter worth about $28,000. Altshuler Shaham Ltd bought a new position in shares of Synchrony Financial during the second quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new stake in shares of Synchrony Financial in the second quarter valued at approximately $33,000. WR Wealth Planners LLC boosted its stake in shares of Synchrony Financial by 83.6% in the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after buying an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Synchrony Financial during the second quarter worth approximately $39,000. Institutional investors own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SYF shares. Morgan Stanley lifted their price objective on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” 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. The Goldman Sachs Group raised their target price on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, BMO Capital Markets decreased their price objective on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus price target of $56.60.

Insider Transactions at Synchrony Financial

In related 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 transaction, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This trade represents 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 at the SEC website. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $55.06 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a 52 week low of $28.84 and a 52 week high of $57.37. The firm has a market cap of $21.44 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 1.10 and a beta of 1.59. The firm’s fifty day moving average is $51.32 and its 200-day moving average is $47.80.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $1.48 EPS. Sell-side analysts predict that Synchrony Financial will post 6.28 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a $0.25 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.05%.

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.