Synchrony Financial (NYSE:SYF) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in Synchrony Financial (NYSE:SYF) by 589.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 644,203 shares of the financial services provider’s stock after purchasing an additional 550,750 shares during the period. Assenagon Asset Management S.A. owned about 0.16% of Synchrony Financial worth $32,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in SYF. IFM Investors Pty Ltd raised its position in shares of Synchrony Financial by 0.5% in the third quarter. IFM Investors Pty Ltd now owns 114,297 shares of the financial services provider’s stock worth $5,701,000 after acquiring an additional 624 shares during the period. CENTRAL TRUST Co raised its holdings in Synchrony Financial by 6.4% in the 3rd quarter. CENTRAL TRUST Co now owns 8,481 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 507 shares during the period. Private Advisor Group LLC purchased a new position in Synchrony Financial during the third quarter worth approximately $276,000. Waldron Private Wealth LLC boosted its position in Synchrony Financial by 87.0% during the third quarter. Waldron Private Wealth LLC now owns 8,148 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 3,790 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Synchrony Financial by 2.7% in the third quarter. Signaturefd LLC now owns 9,877 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 261 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction that occurred 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 sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now directly owns 49,390 shares in the company, valued at approximately $2,510,987.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Trading Down 0.2 %

Shares of SYF opened at $55.15 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $50.19 and a 200 day moving average price of $47.00. Synchrony Financial has a 12-month low of $27.65 and a 12-month high of $57.26. The firm has a market capitalization of $22.15 billion, a P/E ratio of 7.91, a P/E/G ratio of 1.22 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.77 by $0.17. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 EPS. Sell-side analysts forecast that Synchrony Financial will post 6.19 EPS for the current year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley increased their target price on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Barclays increased their price objective on shares of Synchrony Financial from $49.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Evercore ISI cut their target price on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. TD Cowen raised their price target on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Compass Point boosted their price objective on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and a consensus target price of $56.25.

Synchrony Financial 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.