Synchrony Financial (NYSE:SYF) Shares Sold by Fortem Financial Group LLC

Fortem Financial Group LLC cut its holdings in shares of Synchrony Financial (NYSE:SYF) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,804 shares of the financial services provider’s stock after selling 558 shares during the period. Fortem Financial Group LLC’s holdings in Synchrony Financial were worth $1,265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SYF. RWC Asset Management LLP raised its stake in Synchrony Financial by 8.4% during the second quarter. RWC Asset Management LLP now owns 9,247 shares of the financial services provider’s stock valued at $436,000 after buying an additional 718 shares in the last quarter. Rhumbline Advisers boosted its holdings in Synchrony Financial by 13.0% in the second quarter. Rhumbline Advisers now owns 1,007,689 shares of the financial services provider’s stock worth $47,553,000 after purchasing an additional 115,564 shares during the period. Convergence Investment Partners LLC increased its stake in Synchrony Financial by 39.5% during the second quarter. Convergence Investment Partners LLC now owns 56,852 shares of the financial services provider’s stock valued at $2,683,000 after purchasing an additional 16,103 shares during the last quarter. United Asset Strategies Inc. raised its holdings in shares of Synchrony Financial by 1.9% during the second quarter. United Asset Strategies Inc. now owns 136,535 shares of the financial services provider’s stock worth $6,443,000 after purchasing an additional 2,589 shares during the period. Finally, Natixis Advisors LLC lifted its position in shares of Synchrony Financial by 2.0% in the 2nd quarter. Natixis Advisors LLC now owns 172,241 shares of the financial services provider’s stock worth $8,128,000 after buying an additional 3,409 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the sale, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares in the company, valued at approximately $2,510,987.60. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Synchrony Financial Stock Performance

SYF opened at $49.29 on Wednesday. The stock has a market cap of $19.48 billion, a PE ratio of 7.07, a P/E/G ratio of 1.18 and a beta of 1.62. Synchrony Financial has a 1 year low of $27.30 and a 1 year high of $52.67. The stock’s 50 day simple moving average is $48.19 and its 200-day simple moving average is $44.67. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. During the same period last year, the firm earned $1.32 EPS. Sell-side analysts forecast that Synchrony Financial will post 5.79 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.03%. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Analysts Set New Price Targets

A number of equities analysts have commented on SYF shares. Morgan Stanley restated an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a research note on Wednesday, June 12th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Friday, July 12th. JMP Securities boosted their target price on shares of Synchrony Financial from $49.00 to $60.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. Compass Point assumed coverage on shares of Synchrony Financial in a research note on Tuesday, July 16th. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Wells Fargo & Company raised their target price on Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and an average price target of $50.41.

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.