Quest Partners LLC Grows Position in Synchrony Financial (NYSE:SYF)

Quest Partners LLC boosted its holdings in Synchrony Financial (NYSE:SYF) by 32.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,040 shares of the financial services provider’s stock after buying an additional 8,115 shares during the quarter. Quest Partners LLC’s holdings in Synchrony Financial were worth $1,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Altshuler Shaham Ltd purchased a new position in shares of Synchrony Financial during the second quarter valued at approximately $31,000. International Assets Investment Management LLC bought a new stake in Synchrony Financial in the 2nd quarter worth approximately $33,000. WR Wealth Planners LLC raised its stake in Synchrony Financial by 83.6% during the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after buying an additional 326 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Synchrony Financial during the 2nd quarter valued at $39,000. Finally, Family Firm Inc. bought a new position in shares of Synchrony Financial during the 2nd quarter valued at $42,000. Institutional investors own 96.48% of the company’s stock.

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the transaction, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $64.05 on Tuesday. The firm’s fifty day moving average is $54.34 and its two-hundred day moving average is $49.24. Synchrony Financial has a 52-week low of $29.15 and a 52-week high of $67.76. The company has a market cap of $24.94 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.90 and a beta of 1.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the firm posted $1.48 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $60.00 price objective on shares of Synchrony Financial in a research report on Monday, October 14th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group raised their price objective on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of Synchrony Financial from $53.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Evercore ISI lifted their price target on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.60.

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.