Synchrony Financial (NYSE:SYF) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its holdings in Synchrony Financial (NYSE:SYF) by 62.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 302,337 shares of the financial services provider’s stock after buying an additional 115,790 shares during the quarter. Los Angeles Capital Management LLC owned 0.07% of Synchrony Financial worth $13,037,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SYF. Invesco Ltd. boosted its stake in Synchrony Financial by 16.0% in the 3rd quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock worth $167,187,000 after purchasing an additional 755,856 shares during the period. Northern Trust Corp boosted its stake in Synchrony Financial by 3.7% in the 3rd quarter. Northern Trust Corp now owns 4,973,509 shares of the financial services provider’s stock worth $152,040,000 after purchasing an additional 178,344 shares during the period. Norges Bank acquired a new position in Synchrony Financial in the 4th quarter worth approximately $182,739,000. Boston Partners boosted its stake in Synchrony Financial by 23.6% in the 4th quarter. Boston Partners now owns 3,826,080 shares of the financial services provider’s stock worth $146,112,000 after purchasing an additional 730,318 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Synchrony Financial by 4.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,707,427 shares of the financial services provider’s stock worth $113,336,000 after purchasing an additional 145,466 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insider Buying and Selling

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

Synchrony Financial Stock Performance

Shares of SYF opened at $43.63 on Thursday. The company has a market capitalization of $17.52 billion, a PE ratio of 6.26, a price-to-earnings-growth ratio of 1.02 and a beta of 1.60. Synchrony Financial has a one year low of $27.30 and a one year high of $46.72. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23. The company’s fifty day moving average price is $43.46 and its 200 day moving average price is $40.76.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.19). The firm had revenue of $5.57 billion during 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 last year, the business earned $1.35 EPS. As a group, analysts expect that Synchrony Financial will post 5.71 earnings per share for the current year.

Synchrony Financial declared that its board has initiated a stock repurchase program on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 2.29%. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

Analysts Set New Price Targets

A number of research firms recently commented on SYF. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Synchrony Financial in a research note on Tuesday, June 11th. JPMorgan Chase & Co. lifted their target price on shares of Synchrony Financial from $42.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Barclays lifted their target price on shares of Synchrony Financial from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Evercore ISI lifted their target price on shares of Synchrony Financial from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Wells Fargo & Company lifted their target price on shares of Synchrony Financial from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.55.

Synchrony Financial Company 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.