6,260 Shares in Synchrony Financial (NYSE:SYF) Acquired by Merit Financial Group LLC

Merit Financial Group LLC bought a new stake in shares of Synchrony Financial (NYSE:SYF) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,260 shares of the financial services provider’s stock, valued at approximately $407,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC grew its position in Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 292 shares in the last quarter. Quarry LP lifted its position in shares of Synchrony Financial by 301.3% in the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after buying an additional 675 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Synchrony Financial during the third quarter valued at approximately $50,000. Venturi Wealth Management LLC raised its holdings in Synchrony Financial by 36.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,662 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 445 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Synchrony Financial during the 2nd quarter valued at approximately $86,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $70.39 on Friday. The company has a fifty day moving average price of $66.53 and a 200 day moving average price of $56.49. The firm has a market cap of $27.41 billion, a PE ratio of 9.19, a PEG ratio of 0.82 and a beta of 1.64. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 1-year low of $37.64 and a 1-year high of $70.93.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s payout ratio is 13.05%.

Insider Buying and Selling

In other news, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, the insider now owns 127,587 shares in the company, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the transaction, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SYF shares. Robert W. Baird set a $62.00 price objective on shares of Synchrony Financial in a report on Thursday, October 17th. TD Cowen lifted their price objective on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 17th. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of Synchrony Financial in a research note on Monday, October 14th. Finally, Evercore ISI lifted their target price on Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.45.

Synchrony Financial 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.