Synchrony Financial (NYSE:SYF) Stock Holdings Increased by Bank of Montreal Can

Bank of Montreal Can raised its holdings in shares of Synchrony Financial (NYSE:SYF) by 35.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 597,103 shares of the financial services provider’s stock after acquiring an additional 157,763 shares during the period. Bank of Montreal Can owned approximately 0.15% of Synchrony Financial worth $29,646,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Boston Partners raised its stake in shares of Synchrony Financial by 66.6% in the 1st quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after buying an additional 2,548,180 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Synchrony Financial by 402.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,520,209 shares of the financial services provider’s stock worth $71,739,000 after buying an additional 1,217,872 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Synchrony Financial by 14.6% in the 2nd quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock worth $264,917,000 after acquiring an additional 727,649 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Synchrony Financial by 400.2% in the 2nd quarter. Acadian Asset Management LLC now owns 842,539 shares of the financial services provider’s stock worth $39,751,000 after acquiring an additional 674,093 shares during the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of Synchrony Financial by 1,043.9% in the 2nd quarter. Candriam S.C.A. now owns 655,173 shares of the financial services provider’s stock worth $30,916,000 after acquiring an additional 597,900 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays lifted their target price on Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their target price on Synchrony Financial from $53.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. TD Cowen lifted their target price on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Evercore ISI lifted their price target on Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Synchrony Financial Trading Down 0.1 %

Synchrony Financial stock opened at $67.22 on Friday. Synchrony Financial has a 52 week low of $29.65 and a 52 week high of $67.76. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $26.17 billion, a P/E ratio of 8.78, a PEG ratio of 0.93 and a beta of 1.59. The stock has a 50-day simple moving average of $57.26 and a 200 day simple moving average of $50.31.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS 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 business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the company posted $1.48 earnings per share. Synchrony Financial’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts expect that Synchrony Financial will post 6.52 earnings per share for the current year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial’s dividend payout ratio is presently 13.05%.

Insider Transactions at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of the business’s 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 completion of the sale, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction 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 represents a 18.03 % 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 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.