Farther Finance Advisors LLC Acquires 496 Shares of Synchrony Financial (NYSE:SYF)

Farther Finance Advisors LLC raised its holdings in Synchrony Financial (NYSE:SYF) by 39.6% in the third quarter, Holdings Channel reports. The fund owned 1,749 shares of the financial services provider’s stock after acquiring an additional 496 shares during the period. Farther Finance Advisors LLC’s holdings in Synchrony Financial were worth $87,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Gladstone Institutional Advisory LLC bought a new stake in Synchrony Financial during the 3rd quarter worth approximately $455,000. United Asset Strategies Inc. increased its position in shares of Synchrony Financial by 0.9% during the third quarter. United Asset Strategies Inc. now owns 137,823 shares of the financial services provider’s stock worth $6,875,000 after acquiring an additional 1,288 shares in the last quarter. US Bancorp DE increased its position in shares of Synchrony Financial by 4.8% during the third quarter. US Bancorp DE now owns 42,216 shares of the financial services provider’s stock worth $2,106,000 after acquiring an additional 1,949 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of Synchrony Financial by 16.2% during the third quarter. First Trust Direct Indexing L.P. now owns 17,137 shares of the financial services provider’s stock worth $855,000 after acquiring an additional 2,387 shares during the period. Finally, Integrated Advisors Network LLC lifted its position in Synchrony Financial by 5.4% in the 3rd quarter. Integrated Advisors Network LLC now owns 10,476 shares of the financial services provider’s stock valued at $523,000 after acquiring an additional 534 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the firm’s 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 transaction, the insider now directly owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Curtis Howse sold 21,934 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the sale, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Down 0.7 %

Shares of SYF opened at $65.12 on Wednesday. Synchrony Financial has a 52 week low of $28.84 and a 52 week high of $67.76. The firm’s 50-day simple moving average is $52.71 and its 200 day simple moving average is $48.52. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $25.35 billion, a P/E ratio of 8.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.59.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. Synchrony Financial’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 earnings per share. On average, analysts forecast that Synchrony Financial will post 6.42 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a report on Monday, October 14th. The Goldman Sachs Group lifted their target price on Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Compass Point boosted their target price on Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised their target price on shares of Synchrony Financial from $53.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $56.60.

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.