Ieq Capital LLC Purchases 2,022 Shares of Synchrony Financial (NYSE:SYF)

Ieq Capital LLC boosted its stake in shares of Synchrony Financial (NYSE:SYFFree Report) by 27.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,334 shares of the financial services provider’s stock after acquiring an additional 2,022 shares during the quarter. Ieq Capital LLC’s holdings in Synchrony Financial were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Kistler Tiffany Companies LLC purchased a new stake in Synchrony Financial during the 2nd quarter valued at about $27,000. Live Oak Investment Partners bought a new position in Synchrony Financial during the 4th quarter valued at approximately $27,000. Allworth Financial LP raised its position in Synchrony Financial by 158.9% during the 2nd quarter. Allworth Financial LP now owns 945 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 580 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Synchrony Financial during the 3rd quarter valued at approximately $35,000. Finally, Massmutual Trust Co. FSB ADV raised its position in Synchrony Financial by 72.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,122 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 472 shares during the last quarter. 94.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Bart Schaller sold 4,644 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $37.50, for a total value of $174,150.00. Following the transaction, the insider now directly owns 60,266 shares of the company’s stock, valued at approximately $2,259,975. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.65% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Synchrony Financial from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. decreased their target price on Synchrony Financial from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, October 17th. Barclays began coverage on Synchrony Financial in a research report on Wednesday, November 15th. They issued an “equal weight” rating and a $31.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on Synchrony Financial in a research report on Wednesday, January 10th. They issued a “buy” rating and a $56.00 target price for the company. Finally, Piper Sandler increased their target price on Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.72.

Read Our Latest Stock Report on Synchrony Financial

Synchrony Financial Stock Performance

Shares of SYF opened at $39.71 on Wednesday. The business’s fifty day simple moving average is $36.31 and its two-hundred day simple moving average is $33.20. The company has a current ratio of 1.22, a quick ratio of 1.23 and a debt-to-equity ratio of 1.21. Synchrony Financial has a 12 month low of $26.59 and a 12 month high of $39.88. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 0.95 and a beta of 1.68.

Synchrony Financial (NYSE:SYFGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same period last year, the business posted $1.26 EPS. Research analysts anticipate that Synchrony Financial will post 5.64 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be issued a $0.25 dividend. The ex-dividend date is Friday, February 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.52%. Synchrony Financial’s dividend payout ratio is currently 19.31%.

Synchrony Financial Profile

(Free Report)

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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