Victory Capital Management Inc. Raises Stock Holdings in Synchrony Financial (NYSE:SYF)

Victory Capital Management Inc. grew its position in Synchrony Financial (NYSE:SYF) by 8.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,061,979 shares of the financial services provider’s stock after acquiring an additional 158,960 shares during the quarter. Victory Capital Management Inc.’s holdings in Synchrony Financial were worth $102,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in Synchrony Financial in the 1st quarter valued at about $213,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Synchrony Financial in the first quarter valued at approximately $253,000. Sei Investments Co. raised its stake in shares of Synchrony Financial by 52.6% during the first quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock worth $21,134,000 after purchasing an additional 168,920 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Synchrony Financial during the first quarter worth $28,000. Finally, State Board of Administration of Florida Retirement System grew its position in Synchrony Financial by 9.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 651,187 shares of the financial services provider’s stock valued at $28,079,000 after buying an additional 56,145 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Stock Up 0.0 %

SYF stock opened at $65.13 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The company’s 50 day simple moving average is $53.03 and its 200-day simple moving average is $48.67. Synchrony Financial has a 12 month low of $28.84 and a 12 month high of $67.76. The firm has a market capitalization of $25.36 billion, a PE ratio of 8.50, a P/E/G ratio of 1.25 and a beta of 1.59.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating 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 firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. Synchrony Financial’s quarterly revenue was up 9.8% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Monday, November 4th. Synchrony Financial’s dividend payout ratio is presently 13.05%.

Analysts Set New Price Targets

A number of brokerages have commented on SYF. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, August 9th. BTIG Research lowered Synchrony Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. Wells Fargo & Company boosted their target price on Synchrony Financial from $53.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and a consensus price target of $56.60.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction dated 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 directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Synchrony Financial 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.