Diversified Trust Co Has $2.64 Million Position in Synchrony Financial (NYSE:SYF)

Diversified Trust Co lifted its stake in Synchrony Financial (NYSE:SYF) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,860 shares of the financial services provider’s stock after acquiring an additional 1,490 shares during the quarter. Diversified Trust Co’s holdings in Synchrony Financial were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Boston Partners increased its position in Synchrony Financial by 66.6% in the 1st quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after purchasing an additional 2,548,180 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Synchrony Financial by 995.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,599,443 shares of the financial services provider’s stock valued at $241,448,000 after buying an additional 5,088,262 shares in the last quarter. Norges Bank acquired a new position in Synchrony Financial in the fourth quarter worth approximately $182,739,000. Charles Schwab Investment Management Inc. raised its position in Synchrony Financial by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,588,159 shares of the financial services provider’s stock valued at $137,032,000 after acquiring an additional 165,369 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in 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 during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SYF shares. Compass Point began coverage on shares of Synchrony Financial in a research note on Tuesday, July 16th. They set a “buy” rating and a $56.00 price target on the stock. The Goldman Sachs Group raised their target price on Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 18th. BMO Capital Markets dropped their price objective on Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, July 18th. Baird R W upgraded Synchrony Financial to a “strong-buy” rating in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.41.

Synchrony Financial Stock Up 0.2 %

SYF stock traded up $0.08 during midday trading on Wednesday, hitting $45.82. The company’s stock had a trading volume of 159,998 shares, compared to its average volume of 4,154,713. The stock has a market capitalization of $18.11 billion, a P/E ratio of 6.56, a PEG ratio of 1.09 and a beta of 1.63. The company’s fifty day moving average price is $46.82 and its 200 day moving average price is $43.70. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $52.67.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. During the same period last year, the firm posted $1.32 earnings per share. As a group, equities research analysts predict that Synchrony Financial will post 5.8 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 2.18%. Synchrony Financial’s payout ratio is currently 14.35%.

Synchrony Financial announced that its board has authorized a stock buyback program on Wednesday, April 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 5.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Synchrony Financial

In related 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 transaction of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

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.