Synchrony Financial (NYSE:SYF) Position Raised by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Synchrony Financial (NYSE:SYF) by 156.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,204 shares of the financial services provider’s stock after purchasing an additional 11,099 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Synchrony Financial were worth $785,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SYF. Massmutual Trust Co. FSB ADV grew its position in Synchrony Financial by 44.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after buying an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Synchrony Financial in the fourth quarter worth approximately $55,000. Brown Brothers Harriman & Co. grew its position in Synchrony Financial by 56.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after buying an additional 522 shares during the last quarter. Principal Securities Inc. acquired a new position in Synchrony Financial in the fourth quarter worth approximately $60,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Synchrony Financial in the first quarter worth approximately $60,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of NYSE:SYF traded down $0.46 on Wednesday, hitting $47.99. 886,288 shares of the company were exchanged, compared to its average volume of 4,258,667. The company’s 50 day moving average price is $44.62 and its two-hundred day moving average price is $41.79. Synchrony Financial has a one year low of $27.30 and a one year high of $48.97. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.24. The firm has a market capitalization of $19.27 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 1.11 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same quarter in the previous year, the firm posted $1.35 EPS. Research analysts expect that Synchrony Financial will post 5.71 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were paid a $0.25 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. Synchrony Financial’s payout ratio is currently 14.35%.

Synchrony Financial announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 5.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SYF shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $62.00 price objective on shares of Synchrony Financial in a research report on Tuesday, June 11th. Morgan Stanley reiterated an “underweight” rating and set a $30.00 price objective on shares of Synchrony Financial in a research report on Wednesday, June 12th. Jefferies Financial Group lifted their price objective on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets boosted their price target on shares of Synchrony Financial from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. Finally, BTIG Research assumed coverage on shares of Synchrony Financial in a report on Friday, June 7th. They set a “buy” rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.41.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the sale, the insider now directly owns 121,042 shares of the company’s stock, valued at $5,446,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by 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.