The Goldman Sachs Group Issues Positive Forecast for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF) had its price objective increased by research analysts at The Goldman Sachs Group from $70.00 to $78.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 11.04% from the company’s previous close.

Several other equities research analysts also recently weighed in on SYF. Evercore ISI dropped their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Cfra Research upgraded Synchrony Financial to a “hold” rating in a research report on Tuesday, April 22nd. Wells Fargo & Company increased their price objective on shares of Synchrony Financial from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial boosted their price objective on Synchrony Financial from $63.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, June 13th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.78.

Synchrony Financial Stock Performance

NYSE SYF opened at $70.25 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick ratio of 1.25. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $70.93. The business’s 50-day simple moving average is $59.52 and its 200-day simple moving average is $59.52. The firm has a market capitalization of $26.74 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.72 and a beta of 1.46.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Equities analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Insider Buying and Selling at Synchrony Financial

In related news, insider Curtis Howse sold 11,380 shares of the business’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the transaction, the insider owned 108,062 shares of the company’s stock, valued at approximately $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 40,639 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the transaction, the insider owned 146,628 shares in the company, valued at $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

Several large investors have recently modified their holdings of SYF. Kera Capital Partners Inc. acquired a new position in Synchrony Financial during the 2nd quarter valued at about $383,000. AG2R LA Mondiale Gestion D Actifs bought a new stake in Synchrony Financial during the first quarter worth about $1,133,000. Voya Investment Management LLC increased its holdings in Synchrony Financial by 7.3% during the first quarter. Voya Investment Management LLC now owns 350,637 shares of the financial services provider’s stock worth $18,563,000 after buying an additional 23,747 shares during the last quarter. Strs Ohio acquired a new stake in shares of Synchrony Financial in the first quarter valued at approximately $2,097,000. Finally, Wealth Management Associates Inc. acquired a new stake in shares of Synchrony Financial during the 1st quarter worth about $328,000. 96.48% of the stock is currently owned by institutional investors.

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.