Synchrony Financial (NYSE:SYF) Position Raised by Ritholtz Wealth Management

Ritholtz Wealth Management increased its position in shares of Synchrony Financial (NYSE:SYF) by 12.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,987 shares of the financial services provider’s stock after purchasing an additional 3,174 shares during the period. Ritholtz Wealth Management’s holdings in Synchrony Financial were worth $1,396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Synchrony Financial during the first quarter worth approximately $28,000. Altshuler Shaham Ltd acquired a new position in Synchrony Financial in the second quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new position in Synchrony Financial in the second quarter worth approximately $33,000. WR Wealth Planners LLC grew its position in Synchrony Financial by 83.6% in the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after buying an additional 326 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Synchrony Financial in the second quarter worth approximately $39,000. Institutional investors own 96.48% of the company’s stock.

Insiders Place Their Bets

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the business’s stock in a transaction 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 owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Up 3.0 %

SYF stock opened at $53.15 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. Synchrony Financial has a 1 year low of $27.30 and a 1 year high of $53.30. The company has a fifty day simple moving average of $48.39 and a 200 day simple moving average of $46.21. The firm has a market cap of $21.01 billion, a PE ratio of 7.38, a PEG ratio of 1.21 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the previous year, the business earned $1.32 EPS. Sell-side analysts anticipate that Synchrony Financial will post 5.81 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s dividend payout ratio is 13.89%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target 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. The Goldman Sachs Group lifted their price target on shares of Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Evercore ISI lowered their price objective on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Jefferies Financial Group lifted their price objective on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.40.

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.