Seven Eight Capital LP Acquires Shares of 25,409 Synchrony Financial (NYSE:SYF)

Seven Eight Capital LP bought a new position in Synchrony Financial (NYSE:SYF) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 25,409 shares of the financial services provider’s stock, valued at approximately $1,199,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Synchrony Financial in the 1st quarter worth about $28,000. International Assets Investment Management LLC purchased a new position in shares of Synchrony Financial during the second quarter worth approximately $33,000. WR Wealth Planners LLC raised its stake in shares of Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 326 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Synchrony Financial in the second quarter valued at approximately $39,000. Finally, Family Firm Inc. bought a new position in Synchrony Financial in the second quarter worth approximately $42,000. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Price Performance

Shares of SYF opened at $51.04 on Friday. The firm has a market capitalization of $20.17 billion, a PE ratio of 7.32, a price-to-earnings-growth ratio of 1.11 and a beta of 1.62. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. The company’s fifty day moving average price is $48.35 and its 200-day moving average price is $45.24. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $52.67.

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

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, August 5th. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Insider Buying and Selling at Synchrony Financial

In other news, insider Bart Schaller sold 930 shares of the stock in a transaction on 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 in the company, valued at $2,510,987.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was 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 in the company, valued at $2,510,987.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’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 sale, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

SYF has been the topic of several research reports. Morgan Stanley restated an “underweight” rating and set a $30.00 price target on shares of Synchrony Financial in a research note on Wednesday, June 12th. Barclays boosted their price target on shares of Synchrony Financial from $46.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Baird R W upgraded shares of Synchrony Financial to a “strong-buy” rating in a research note on Friday, June 28th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $62.00 target price on shares of Synchrony Financial in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.41.

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.