Caprock Group LLC Boosts Position in Synchrony Financial (NYSE:SYF)

Caprock Group LLC grew its holdings in shares of Synchrony Financial (NYSE:SYF) by 20.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,333 shares of the financial services provider’s stock after buying an additional 7,985 shares during the quarter. Caprock Group LLC’s holdings in Synchrony Financial were worth $2,311,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Pathstone Holdings LLC increased its holdings in Synchrony Financial by 1.3% in the 3rd quarter. Pathstone Holdings LLC now owns 37,785 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 493 shares in the last quarter. Quest Partners LLC grew its stake in shares of Synchrony Financial by 32.6% in the third quarter. Quest Partners LLC now owns 33,040 shares of the financial services provider’s stock valued at $1,648,000 after buying an additional 8,115 shares in the last quarter. Natixis Advisors LLC lifted its position in Synchrony Financial by 7.2% during the 3rd quarter. Natixis Advisors LLC now owns 184,577 shares of the financial services provider’s stock worth $9,207,000 after acquiring an additional 12,336 shares in the last quarter. Empirical Finance LLC boosted its holdings in Synchrony Financial by 1.3% in the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock worth $773,000 after acquiring an additional 204 shares during the period. Finally, Empowered Funds LLC grew its position in Synchrony Financial by 51.9% in the third quarter. Empowered Funds LLC now owns 158,921 shares of the financial services provider’s stock valued at $7,927,000 after acquiring an additional 54,292 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SYF shares. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird set a $62.00 target price on Synchrony Financial in a research note on Thursday, October 17th. Barclays boosted their price target on Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised their price objective on Synchrony Financial from $64.00 to $72.50 and gave the company a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada upped their target price on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

Insider Buying and Selling

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the business’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 sale, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider now owns 127,587 shares of the company’s stock, valued at approximately $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.

Synchrony Financial Trading Down 0.6 %

Synchrony Financial stock opened at $63.65 on Wednesday. The firm has a 50-day moving average price of $54.69 and a two-hundred day moving average price of $49.36. Synchrony Financial has a 52-week low of $29.15 and a 52-week high of $67.76. The firm has a market capitalization of $24.78 billion, a price-to-earnings ratio of 8.31, a PEG 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.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data 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 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 for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 EPS. Sell-side analysts expect that Synchrony Financial will post 6.52 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial’s dividend payout ratio 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.