Round Hill Asset Management Increases Holdings in Synchrony Financial (NYSE:SYF)

Round Hill Asset Management grew its holdings in shares of Synchrony Financial (NYSE:SYF) by 0.9% in the third quarter, Holdings Channel reports. The institutional investor owned 67,108 shares of the financial services provider’s stock after purchasing an additional 566 shares during the period. Synchrony Financial makes up 2.2% of Round Hill Asset Management’s holdings, making the stock its 14th biggest holding. Round Hill Asset Management’s holdings in Synchrony Financial were worth $3,347,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after buying an additional 292 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $31,000. International Assets Investment Management LLC purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $33,000. WR Wealth Planners LLC lifted its holdings in shares of Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 326 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $39,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

SYF stock opened at $65.99 on Friday. Synchrony Financial has a 1 year low of $29.15 and a 1 year 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’s 50 day moving average price is $55.81 and its 200 day moving average price is $49.75. The firm has a market cap of $25.69 billion, a P/E ratio of 8.61, a PEG ratio of 0.90 and a beta of 1.59.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share 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 company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the company posted $1.48 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.52%. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Analyst Ratings Changes

Several research firms have recently weighed in on SYF. Morgan Stanley boosted their target price on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a report on Friday, August 9th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Barclays boosted their price target on Synchrony Financial from $49.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price target 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Insiders Place Their Bets

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 stock was 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 in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction dated 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 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 disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

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.