MML Investors Services LLC Boosts Stock Position in Synchrony Financial (NYSE:SYF)

MML Investors Services LLC lifted its position in Synchrony Financial (NYSE:SYF) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,582 shares of the financial services provider’s stock after buying an additional 2,396 shares during the quarter. MML Investors Services LLC’s holdings in Synchrony Financial were worth $1,376,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. First National Bank of Omaha increased its holdings in Synchrony Financial by 35.3% during the 3rd quarter. First National Bank of Omaha now owns 65,224 shares of the financial services provider’s stock worth $3,253,000 after purchasing an additional 17,012 shares during the period. Zurich Insurance Group Ltd FI increased its holdings in Synchrony Financial by 389.8% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock worth $56,797,000 after purchasing an additional 906,172 shares during the period. iSAM Funds UK Ltd purchased a new stake in Synchrony Financial during the 3rd quarter worth about $399,000. National Bank of Canada FI increased its holdings in Synchrony Financial by 119.0% during the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock worth $12,123,000 after purchasing an additional 132,047 shares during the period. Finally, iA Global Asset Management Inc. increased its holdings in Synchrony Financial by 1.4% during the 3rd quarter. iA Global Asset Management Inc. now owns 53,340 shares of the financial services provider’s stock worth $2,661,000 after purchasing an additional 751 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 21,934 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $59.00 to $72.00 in a research report on Monday, December 9th. Royal Bank of Canada upped their price objective on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods upped their price objective on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Compass Point upped their price objective on Synchrony Financial from $60.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.53.

Synchrony Financial Stock Down 5.4 %

SYF opened at $63.59 on Thursday. The business has a 50 day moving average price of $62.11 and a two-hundred day moving average price of $52.67. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The company has a market cap of $24.76 billion, a PE ratio of 8.30, a P/E/G ratio of 0.82 and a beta of 1.63. Synchrony Financial has a 52 week low of $35.29 and a 52 week high of $69.39.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 EPS. As a group, research analysts anticipate that Synchrony Financial will post 6.51 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s dividend payout ratio (DPR) is 13.05%.

Synchrony Financial Company 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.