Synchrony Financial (NYSE:SYF) Shares Sold by Brighton Jones LLC

Brighton Jones LLC decreased its stake in shares of Synchrony Financial (NYSE:SYF) by 29.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,416 shares of the financial services provider’s stock after selling 4,766 shares during the period. Brighton Jones LLC’s holdings in Synchrony Financial were worth $539,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SYF. Headlands Technologies LLC acquired a new position in Synchrony Financial in the first quarter valued at $28,000. International Assets Investment Management LLC acquired a new stake in Synchrony Financial during the second quarter worth about $33,000. WR Wealth Planners LLC raised its holdings in shares of Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 326 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Synchrony Financial in the 2nd quarter valued at about $39,000. Finally, Family Firm Inc. purchased a new stake in shares of Synchrony Financial during the 2nd quarter worth about $42,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Down 0.9 %

NYSE:SYF opened at $50.58 on Friday. 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 company has a market capitalization of $20.31 billion, a price-to-earnings ratio of 7.26, a price-to-earnings-growth ratio of 1.11 and a beta of 1.62. Synchrony Financial has a one year low of $27.30 and a one year high of $52.67. The stock has a 50-day simple moving average of $48.38 and a 200 day simple moving average of $45.34.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.35 by $0.20. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. During the same quarter last year, the firm earned $1.32 EPS. Sell-side analysts predict that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial 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 transaction, the insider now directly owns 49,390 shares in the company, valued at $2,510,987.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Bart Schaller sold 930 shares of the business’s stock in a transaction on 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 owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

SYF has been the topic of several research reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $62.00 price target on shares of Synchrony Financial in a report on Tuesday, June 11th. Barclays upped their price target on shares of Synchrony Financial from $46.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. JMP Securities raised their price objective on Synchrony Financial from $49.00 to $60.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 16th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Friday, August 9th. Finally, Compass Point began coverage on Synchrony Financial in a report on Tuesday, July 16th. They set a “buy” rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and an average target price 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.