Impact Partnership Wealth LLC Purchases Shares of 9,159 Synchrony Financial (NYSE:SYF)

Impact Partnership Wealth LLC acquired a new position in Synchrony Financial (NYSE:SYF) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,159 shares of the financial services provider’s stock, valued at approximately $432,000.

A number of other hedge funds have also recently made changes to their positions in SYF. Assenagon Asset Management S.A. lifted its holdings in Synchrony Financial by 995.4% in 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 purchasing an additional 5,088,262 shares in the last quarter. Norges Bank bought a new position in shares of Synchrony Financial during the fourth quarter worth $182,739,000. Boston Partners grew its stake in Synchrony Financial by 66.6% during the first quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock valued at $274,892,000 after acquiring an additional 2,548,180 shares in the last quarter. KBC Group NV grew its stake in Synchrony Financial by 362.0% during the fourth quarter. KBC Group NV now owns 1,981,883 shares of the financial services provider’s stock valued at $75,688,000 after acquiring an additional 1,552,946 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Synchrony Financial by 33.5% in the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock worth $115,266,000 after purchasing an additional 674,366 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

SYF has been the topic of several research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a report on Wednesday, June 12th. The Goldman Sachs Group boosted their target price on Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. increased their price objective on shares of Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. JMP Securities boosted their target price on Synchrony Financial from $49.00 to $60.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 16th. Finally, StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.41.

Insider Activity

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s 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. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s 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 sale, the insider now owns 76,251 shares in the company, 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 Stock Performance

Shares of SYF traded down $0.06 during trading hours on Thursday, reaching $49.13. 252,548 shares of the company traded hands, compared to its average volume of 4,037,029. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. The business has a fifty day moving average price of $48.28 and a 200-day moving average price of $44.70. Synchrony Financial has a 12-month low of $27.30 and a 12-month high of $52.67. The stock has a market capitalization of $19.42 billion, a P/E ratio of 7.05, a P/E/G ratio of 1.18 and a beta of 1.62.

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

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s payout ratio is 14.35%.

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.