Daiwa Securities Group Inc. Has $2.77 Million Stock Position in Synchrony Financial (NYSE:SYF)

Daiwa Securities Group Inc. boosted its holdings in Synchrony Financial (NYSE:SYF) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,652 shares of the financial services provider’s stock after purchasing an additional 4,146 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Synchrony Financial were worth $2,768,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SYF. Norges Bank bought a new stake in shares of Synchrony Financial in the 4th quarter valued at $182,739,000. Boston Partners lifted its position in Synchrony Financial by 66.6% in the 1st quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock valued at $274,892,000 after acquiring an additional 2,548,180 shares in the last quarter. KBC Group NV boosted its position in shares of Synchrony Financial by 362.0% during the fourth quarter. KBC Group NV now owns 1,981,883 shares of the financial services provider’s stock valued at $75,688,000 after buying an additional 1,552,946 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Synchrony Financial by 402.8% during the second quarter. Los Angeles Capital Management LLC now owns 1,520,209 shares of the financial services provider’s stock worth $71,739,000 after buying an additional 1,217,872 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Synchrony Financial by 33.5% in the first quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock valued at $115,266,000 after purchasing an additional 674,366 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Price Performance

NYSE:SYF opened at $47.13 on Friday. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $52.67. The stock has a fifty day moving average of $48.29 and a 200 day moving average of $45.01. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 1.08 and a beta of 1.62.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the company posted $1.32 EPS. On average, research analysts expect that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.12%. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Insider Activity at Synchrony Financial

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird started coverage on Synchrony Financial in a research report on Friday, June 28th. They set an “outperform” rating and a $56.00 price target for the company. Compass Point began coverage on Synchrony Financial in a research note on Tuesday, July 16th. They issued a “buy” rating and a $56.00 price objective on the stock. Morgan Stanley reissued an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a research report on Wednesday, June 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $62.00 price target on shares of Synchrony Financial in a research report on Tuesday, June 11th. Finally, BTIG Research assumed coverage on Synchrony Financial in a research note on Friday, June 7th. They set a “buy” rating and a $60.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.41.

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.