MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires 8,251 Shares of Synchrony Financial (NYSE:SYF)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Synchrony Financial (NYSE:SYF) by 32.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,619 shares of the financial services provider’s stock after acquiring an additional 8,251 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Synchrony Financial were worth $2,187,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. 1832 Asset Management L.P. grew its holdings in Synchrony Financial by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock valued at $2,465,000 after buying an additional 251 shares in the last quarter. Marshall Wace LLP purchased a new position in Synchrony Financial during the second quarter valued at approximately $444,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Synchrony Financial by 57.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,928 shares of the financial services provider’s stock worth $3,677,000 after acquiring an additional 28,343 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Synchrony Financial in the 2nd quarter worth approximately $10,972,000. Finally, AXA S.A. boosted its holdings in Synchrony Financial by 8.4% in the 2nd quarter. AXA S.A. now owns 428,786 shares of the financial services provider’s stock valued at $20,234,000 after purchasing an additional 33,334 shares during the period. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock opened at $70.39 on Friday. The firm has a market cap of $27.41 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 0.83 and a beta of 1.64. The company’s fifty day simple moving average is $66.53 and its two-hundred day simple moving average is $56.49. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 12-month low of $37.64 and a 12-month high of $70.93.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s payout ratio is 13.05%.

Insiders Place Their Bets

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 directly owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now owns 127,587 shares in the company, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of Synchrony Financial in a research note on Monday, October 14th. Royal Bank of Canada lifted their price target on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 17th. TD Cowen upped their price objective on shares of Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Compass Point raised their target price on shares of Synchrony Financial from $60.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and a consensus price target of $65.45.

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.