Synchrony Financial (NYSE:SYF) Price Target Raised to $73.00 at Royal Bank of Canada

Synchrony Financial (NYSE:SYF) had its target price increased by Royal Bank of Canada from $70.00 to $73.00 in a report published on Wednesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. JMP Securities reissued a “market outperform” rating and set a $60.00 price target on shares of Synchrony Financial in a research report on Monday, October 14th. Jefferies Financial Group raised their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. TD Cowen raised their target price on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synchrony Financial has a consensus rating of “Moderate Buy” and an average target price of $69.05.

Synchrony Financial Trading Up 3.2 %

Shares of SYF opened at $68.76 on Wednesday. The firm has a market capitalization of $26.77 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 0.83 and a beta of 1.64. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock’s fifty day simple moving average is $66.93 and its 200 day simple moving average is $57.14. Synchrony Financial has a twelve month low of $37.91 and a twelve month high of $70.93.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. On average, equities research analysts forecast that Synchrony Financial will post 6.54 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.45%. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Insider Buying and Selling at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the transaction, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. This represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Southpoint Capital Advisors LP grew its position in shares of Synchrony Financial by 37.9% in the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock valued at $229,448,000 after purchasing an additional 1,265,000 shares during the last quarter. Zurich Insurance Group Ltd FI increased its holdings in Synchrony Financial by 389.8% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock valued at $56,797,000 after buying an additional 906,172 shares during the period. Soros Fund Management LLC bought a new stake in Synchrony Financial in the third quarter valued at about $41,088,000. Assenagon Asset Management S.A. raised its holdings in shares of Synchrony Financial by 589.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,203 shares of the financial services provider’s stock worth $32,133,000 after buying an additional 550,750 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Synchrony Financial by 18.5% during the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after acquiring an additional 481,750 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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.