Philip James Wealth Mangement LLC Buys Shares of 6,124 Synchrony Financial (NYSE:SYF)

Philip James Wealth Mangement LLC purchased a new stake in shares of Synchrony Financial (NYSE:SYF) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,124 shares of the financial services provider’s stock, valued at approximately $305,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYF. Swedbank AB grew its position in Synchrony Financial by 23.8% during the second quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock valued at $4,694,000 after buying an additional 19,098 shares during the period. Cetera Investment Advisers purchased a new position in shares of Synchrony Financial during the 1st quarter worth $2,192,000. Meeder Asset Management Inc. grew its position in shares of Synchrony Financial by 98.6% during the 1st quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock valued at $1,029,000 after acquiring an additional 11,846 shares during the period. Sei Investments Co. increased its stake in shares of Synchrony Financial by 52.6% in the 1st quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock worth $21,134,000 after purchasing an additional 168,920 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Synchrony Financial by 3.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 998,350 shares of the financial services provider’s stock worth $42,011,000 after purchasing an additional 30,366 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SYF. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, August 9th. JMP Securities reiterated a “market outperform” rating and set a $60.00 price objective on shares of Synchrony Financial in a research note on Monday, October 14th. Royal Bank of Canada increased their target price on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their price target on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Evercore ISI increased their price objective 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 analyst has rated the stock with a sell rating, eight have assigned 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.60.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s 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 transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s 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 directly owns 76,251 shares in the company, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Synchrony Financial Price Performance

SYF traded down $0.11 during trading hours on Friday, hitting $64.53. The company’s stock had a trading volume of 206,926 shares, compared to its average volume of 3,949,292. Synchrony Financial has a 12 month low of $28.84 and a 12 month high of $67.76. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $51.84 and its 200-day moving average price is $48.05. The stock has a market cap of $25.12 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 1.31 and a beta of 1.59.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm posted $1.48 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts expect that Synchrony Financial will post 6.42 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

Synchrony Financial Company Profile

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.