Choreo LLC Makes New $392,000 Investment in Synchrony Financial (NYSE:SYF)

Choreo LLC purchased a new stake in shares of Synchrony Financial (NYSE:SYF) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,186 shares of the financial services provider’s stock, valued at approximately $392,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SYF. Headlands Technologies LLC purchased a new position in Synchrony Financial in the 1st quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in Synchrony Financial in the second quarter worth $33,000. WR Wealth Planners LLC increased its stake in Synchrony Financial by 83.6% in 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 during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Synchrony Financial during the second quarter valued at about $39,000. Finally, Family Firm Inc. bought a new stake in Synchrony Financial during the second quarter worth about $42,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Up 0.4 %

SYF stock opened at $47.33 on Tuesday. The business has a 50 day moving average of $48.28 and a 200 day moving average of $45.11. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. The firm has a market cap of $19.01 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 1.09 and a beta of 1.62. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $52.67.

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

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Insider Activity

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Bart Schaller sold 930 shares of the firm’s 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 completion of the sale, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of 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.

Analysts Set New Price Targets

SYF has been the topic of a number of research reports. Royal Bank of Canada raised their price objective on Synchrony Financial from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday, July 18th. Baird R W raised shares of Synchrony Financial to a “strong-buy” rating in a research note on Friday, June 28th. Compass Point initiated coverage on shares of Synchrony Financial in a research report on Tuesday, July 16th. They issued a “buy” rating and a $56.00 target price on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $62.00 price target on shares of Synchrony Financial in a research report on Tuesday, June 11th. Finally, Barclays lifted their price objective on Synchrony Financial from $46.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.