APG Asset Management US Inc. Invests $3.19 Million in Synchrony Financial (NYSE:SYF)

APG Asset Management US Inc. acquired a new position in Synchrony Financial (NYSE:SYFFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 83,515 shares of the financial services provider’s stock, valued at approximately $3,189,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Synchrony Financial in the fourth quarter worth about $182,739,000. Invesco Ltd. grew its stake in shares of Synchrony Financial by 16.0% in the third quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock worth $167,187,000 after purchasing an additional 755,856 shares during the last quarter. Boston Partners grew its stake in shares of Synchrony Financial by 23.6% in the fourth quarter. Boston Partners now owns 3,826,080 shares of the financial services provider’s stock worth $146,112,000 after purchasing an additional 730,318 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Synchrony Financial by 33.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,907,126 shares of the financial services provider’s stock worth $88,871,000 after purchasing an additional 720,587 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Synchrony Financial by 99.7% in the third quarter. American Century Companies Inc. now owns 958,641 shares of the financial services provider’s stock worth $29,306,000 after purchasing an additional 478,676 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Down 1.4 %

Synchrony Financial stock traded down $0.62 during midday trading on Monday, reaching $43.18. The stock had a trading volume of 582,564 shares, compared to its average volume of 4,353,294. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 6.28, a price-to-earnings-growth ratio of 1.01 and a beta of 1.60. The company has a fifty day moving average of $43.12 and a 200 day moving average of $39.66. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $46.72. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.15.

Synchrony Financial (NYSE:SYFGet Free Report) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.19). The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter last year, the business earned $1.35 earnings per share. On average, analysts anticipate that Synchrony Financial will post 5.75 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 2.32%. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Synchrony Financial declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 5.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on SYF shares. Barclays raised their target price on Synchrony Financial from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Bank of America lifted their price objective on Synchrony Financial from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. BMO Capital Markets lifted their price objective on Synchrony Financial from $40.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price objective on Synchrony Financial from $42.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, TD Cowen lifted their price objective on Synchrony Financial from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.74.

Read Our Latest Research Report on Synchrony Financial

Insider Activity at Synchrony Financial

In other news, insider Curtis Howse sold 6,179 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the sale, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the sale, the insider now directly owns 660,353 shares in the company, valued at $27,246,164.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the sale, the insider now owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,437 shares of company stock valued at $7,242,432. Corporate insiders own 0.33% of the company’s stock.

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 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.

Featured Stories

Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYFFree Report).

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

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.