Synchrony Financial (NYSE:SYF) Shares Purchased by Los Angeles Capital Management LLC

by · The Markets Daily

Los Angeles Capital Management LLC lifted its stake in Synchrony Financial (NYSE:SYF – Free Report) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,664,300 shares of the financial services provider’s stock after acquiring an additional 144,091 shares during the quarter. Los Angeles Capital Management LLC owned 0.43% of Synchrony Financial worth $83,015,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Synchrony Financial in the 1st quarter worth approximately $28,000. Altshuler Shaham Ltd purchased a new stake in Synchrony Financial during the 2nd quarter worth approximately $31,000. International Assets Investment Management LLC purchased a new stake in Synchrony Financial during the 2nd quarter worth approximately $33,000. WR Wealth Planners LLC increased its stake in Synchrony Financial by 83.6% during the 2nd 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 period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Synchrony Financial during the 2nd quarter worth approximately $39,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

Shares of SYF stock traded down $0.85 during mid-day trading on Friday, hitting $63.79. The stock had a trading volume of 4,786,578 shares, compared to its average volume of 3,971,369. Synchrony Financial has a fifty-two week low of $28.84 and a fifty-two week high of $67.76. The firm has a market cap of $24.84 billion, a PE ratio of 8.33, a PEG ratio of 1.24 and a beta of 1.59. 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 $52.41 and its 200-day simple moving average is $48.35.

Synchrony Financial (NYSE:SYF – Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the business earned $1.48 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Synchrony Financial will post 6.42 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. Synchrony Financial’s dividend payout ratio is presently 13.05%.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction dated 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 in the company, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the transaction, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 17th. BTIG Research downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Read Our Latest Stock Analysis on SYF

Synchrony Financial Company Profile

(Free Report)

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.

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