Synchrony Financial (NYSE:SYF) Shares Purchased by Paloma Partners Management Co

Paloma Partners Management Co raised its position in Synchrony Financial (NYSE:SYF) by 123.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,200 shares of the financial services provider’s stock after purchasing an additional 6,190 shares during the quarter. Paloma Partners Management Co’s holdings in Synchrony Financial were worth $559,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 292 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Synchrony Financial during the 2nd quarter worth about $31,000. International Assets Investment Management LLC purchased a new stake in Synchrony Financial in the 2nd quarter valued at about $33,000. WR Wealth Planners LLC raised its holdings in Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after buying an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Synchrony Financial during the second quarter worth about $39,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley raised their price target on Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. BTIG Research downgraded Synchrony Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. TD Cowen lifted their target price on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Barclays increased their price target on shares of Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and a consensus target price of $58.68.

Synchrony Financial Trading Up 0.1 %

NYSE SYF opened at $67.14 on Wednesday. Synchrony Financial has a 12 month low of $33.51 and a 12 month high of $69.00. The company has a market capitalization of $26.14 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 0.93 and a beta of 1.63. 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 firm’s fifty day moving average price is $58.33 and its 200 day moving average price is $50.88.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping 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 business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial’s payout ratio is currently 13.05%.

Insider Transactions at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction on 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 owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 18.03 % 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.

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.