PNC Financial Services Group Inc. Purchases 4,417 Shares of Synchrony Financial (NYSE:SYF)

PNC Financial Services Group Inc. boosted its position in shares of Synchrony Financial (NYSE:SYF) by 8.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,950 shares of the financial services provider’s stock after acquiring an additional 4,417 shares during the period. PNC Financial Services Group Inc.’s holdings in Synchrony Financial were worth $2,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYF. Altshuler Shaham Ltd purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $31,000. International Assets Investment Management LLC bought a new position in shares of Synchrony Financial in the second quarter worth approximately $33,000. WR Wealth Planners LLC raised its stake in Synchrony Financial by 83.6% in the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 326 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Synchrony Financial during the second quarter valued at approximately $39,000. Finally, Family Firm Inc. bought a new stake in Synchrony Financial during the second quarter valued at approximately $42,000. Institutional investors own 96.48% of the company’s stock.

Insider Activity

In related news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the sale, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $67.04 on Tuesday. The firm has a market capitalization of $26.10 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 0.91 and a beta of 1.59. The stock has a fifty day moving average of $56.21 and a 200 day moving average of $49.92. Synchrony Financial has a 52 week low of $29.15 and a 52 week high of $67.76. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the company posted $1.48 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts expect that Synchrony Financial will post 6.52 earnings per share for the current year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. TD Cowen increased their target price on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price target on Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Friday, August 9th. Finally, Evercore ISI boosted their target price on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.43.

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.