Perkins Coie Trust Co Makes New $125,000 Investment in Synchrony Financial (NYSE:SYF)

Perkins Coie Trust Co purchased a new position in shares of Synchrony Financial (NYSE:SYF) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,500 shares of the financial services provider’s stock, valued at approximately $125,000.

A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Synchrony Financial by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 6,686,486 shares of the financial services provider’s stock worth $315,381,000 after purchasing an additional 313,128 shares in the last quarter. Boston Partners lifted its position in shares of Synchrony Financial by 66.6% in the first quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock valued at $274,892,000 after acquiring an additional 2,548,180 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Synchrony Financial by 14.6% in the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock valued at $264,917,000 after acquiring an additional 727,649 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Synchrony Financial by 2.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,496,009 shares of the financial services provider’s stock valued at $150,748,000 after acquiring an additional 97,235 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Synchrony Financial by 18.7% in the second quarter. Hsbc Holdings PLC now owns 3,131,599 shares of the financial services provider’s stock valued at $147,599,000 after acquiring an additional 492,312 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SYF shares. Evercore ISI decreased their target price on Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a research report on Monday. BTIG Research cut Synchrony Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. JPMorgan Chase & Co. increased their price target on Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 8th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company increased their price target on Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.43.

Insider Activity

In other news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction 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 sale, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction 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 approximately $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 approximately $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Synchrony Financial Trading Up 0.8 %

SYF stock traded up $0.40 during midday trading on Wednesday, hitting $51.59. 223,140 shares of the company’s stock were exchanged, compared to its average volume of 3,963,834. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $52.67. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. The business has a 50-day simple moving average of $48.14 and a two-hundred day simple moving average of $45.99. The stock has a market capitalization of $20.39 billion, a PE ratio of 7.34, a P/E/G ratio of 1.22 and a beta of 1.61.

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 return on equity of 16.06% and a net margin of 13.52%. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. On average, sell-side analysts predict that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.94%. Synchrony Financial’s payout ratio is presently 14.35%.

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.