Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in Synchrony Financial (NYSE:SYF)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Synchrony Financial (NYSE:SYF) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,968 shares of the financial services provider’s stock after purchasing an additional 379 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Synchrony Financial were worth $1,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Synchrony Financial by 18.5% in the fourth quarter. Wellington Management Group LLP now owns 65,514 shares of the financial services provider’s stock valued at $2,502,000 after buying an additional 10,207 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Synchrony Financial by 8.2% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 11,872 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 900 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Synchrony Financial by 5.0% during the 1st quarter. Park Avenue Securities LLC now owns 12,161 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 576 shares during the period. Kwmg LLC boosted its holdings in shares of Synchrony Financial by 0.6% during the first quarter. Kwmg LLC now owns 136,950 shares of the financial services provider’s stock worth $5,905,000 after purchasing an additional 793 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Synchrony Financial in the first quarter valued at $60,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYF. The Goldman Sachs Group increased their target price on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Evercore ISI lowered their target price on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Jefferies Financial Group upped their price target on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Finally, BMO Capital Markets dropped their price objective on Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.25.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction on 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 owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’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 transaction, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated 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 transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Price Performance

SYF opened at $55.81 on Tuesday. The company has a market capitalization of $22.06 billion, a P/E ratio of 7.29, a PEG ratio of 1.30 and a beta of 1.61. The company has a 50-day moving average of $49.63 and a 200-day moving average of $46.78. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.23 and a current ratio of 1.25. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $57.26.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the company earned $1.48 earnings per share. Synchrony Financial’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts expect that Synchrony Financial will post 6.09 EPS for the current fiscal year.

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.