Brooklyn Investment Group Buys New Shares in Synchrony Financial (NYSE:SYF)

Brooklyn Investment Group purchased a new position in shares of Synchrony Financial (NYSE:SYF) in the third quarter, Holdings Channel reports. The fund purchased 2,208 shares of the financial services provider’s stock, valued at approximately $110,000.

Several other institutional investors have also recently made changes to their positions in SYF. Graypoint LLC lifted its holdings in shares of Synchrony Financial by 4.0% in the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after buying an additional 181 shares during the period. Empirical Finance LLC lifted its holdings in Synchrony Financial by 1.3% in the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 204 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Synchrony Financial by 1.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock worth $997,000 after purchasing an additional 227 shares in the last quarter. Wedmont Private Capital boosted its position in Synchrony Financial by 3.3% in the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 242 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Synchrony Financial by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Down 0.1 %

Shares of SYF opened at $67.22 on Thursday. The stock has a fifty day simple moving average of $56.94 and a two-hundred day simple moving average of $50.20. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $26.17 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 0.93 and a beta of 1.59. Synchrony Financial has a 52-week low of $29.65 and a 52-week high of $67.76.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the business posted $1.48 EPS. Synchrony Financial’s revenue was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that Synchrony Financial will post 6.52 EPS for the current 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 paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.49%. Synchrony Financial’s payout ratio is presently 13.05%.

Insider Activity at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now owns 127,587 shares of the company’s stock, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the firm’s 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 sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, August 9th. Royal Bank of Canada increased their target price on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price target on Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Evercore ISI upped their price target on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. One 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’s stock. According to MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

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.