9258 Wealth Management LLC Purchases New Holdings in Synchrony Financial (NYSE:SYF)

9258 Wealth Management LLC bought a new stake in shares of Synchrony Financial (NYSE:SYF) in the 2nd quarter, Holdings Channel reports. The firm bought 4,408 shares of the financial services provider’s stock, valued at approximately $208,000.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in shares of Synchrony Financial by 995.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,599,443 shares of the financial services provider’s stock worth $241,448,000 after acquiring an additional 5,088,262 shares during the last quarter. Norges Bank purchased a new stake in shares of Synchrony Financial during the fourth quarter valued at $182,739,000. Boston Partners grew its holdings in shares of Synchrony Financial by 66.6% in the first quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after purchasing an additional 2,548,180 shares during the last quarter. KBC Group NV increased its stake in Synchrony Financial by 362.0% in the 4th quarter. KBC Group NV now owns 1,981,883 shares of the financial services provider’s stock worth $75,688,000 after buying an additional 1,552,946 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Synchrony Financial by 33.5% during the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock valued at $115,266,000 after buying an additional 674,366 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Down 1.1 %

NYSE SYF opened at $48.67 on Friday. The stock has a market cap of $19.24 billion, a P/E ratio of 6.98, a P/E/G ratio of 1.18 and a beta of 1.62. 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 has a 12-month low of $27.30 and a 12-month high of $52.67. The company has a fifty day simple moving average of $48.37 and a two-hundred day simple moving average of $44.72.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (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 analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. During the same quarter last year, the business posted $1.32 EPS. On average, analysts forecast that Synchrony Financial will post 5.79 earnings per share for the current year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Monday, August 5th. Synchrony Financial’s dividend payout ratio (DPR) is 14.35%.

Analysts Set New Price Targets

SYF has been the topic of a number of research analyst reports. BMO Capital Markets dropped their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, July 18th. Jefferies Financial Group raised their price objective on Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Compass Point began coverage on Synchrony Financial in a report on Tuesday, July 16th. They issued a “buy” rating and a $56.00 target price for the company. JMP Securities increased their price target on Synchrony Financial from $49.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $62.00 price objective on shares of Synchrony Financial in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average price target of $50.41.

Insider Activity at Synchrony Financial

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

About Synchrony Financial

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.