Quest Partners LLC Raises Stock Holdings in Synchrony Financial (NYSE:SYF)

by · The Markets Daily

Quest Partners LLC boosted its stake in Synchrony Financial (NYSE:SYF – Free Report) by 32.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,040 shares of the financial services provider’s stock after purchasing an additional 8,115 shares during the quarter. Quest Partners LLC’s holdings in Synchrony Financial were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SYF. Altshuler Shaham Ltd bought a new stake in shares of Synchrony Financial during the 2nd quarter worth $31,000. International Assets Investment Management LLC purchased a new position in shares of Synchrony Financial in the 2nd quarter worth about $33,000. WR Wealth Planners LLC increased its position in shares of Synchrony Financial by 83.6% during 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. Ashton Thomas Private Wealth LLC purchased a new position in shares of Synchrony Financial during the 2nd quarter valued at about $39,000. Finally, Family Firm Inc. bought a new stake in Synchrony Financial in the 2nd quarter worth approximately $42,000. 96.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction dated Friday, November 1st. The shares were 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 directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

SYF has been the topic of a number of recent research reports. Royal Bank of Canada increased their price target 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. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price objective on Synchrony Financial from $53.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Morgan Stanley increased 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. Finally, Robert W. Baird set a $62.00 price target on Synchrony Financial in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Read Our Latest Stock Analysis on SYF

Synchrony Financial Stock Performance

Shares of SYF stock opened at $64.05 on Tuesday. 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 company’s fifty day moving average price is $54.34 and its 200-day moving average price is $49.24. The stock has a market cap of $24.94 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 0.90 and a beta of 1.59. Synchrony Financial has a 12 month low of $29.15 and a 12 month high of $67.76.

Synchrony Financial (NYSE:SYF – Get Free Report) last announced its quarterly earnings data 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 net margin of 13.98% and a return on equity of 16.64%. The business 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 company earned $1.48 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts expect that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

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.

See Also

Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF – Free Report).