LPL Financial LLC Purchases 5,424 Shares of Synchrony Financial (NYSE:SYF)

LPL Financial LLC grew its position in shares of Synchrony Financial (NYSE:SYF – Get Rating) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,011 shares of the financial services provider’s stock after purchasing an additional 5,424 shares during the quarter. LPL Financial LLC’s holdings in Synchrony Financial were worth $2,268,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in shares of Synchrony Financial by 6.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 211,497 shares of the financial services provider’s stock valued at $6,950,000 after purchasing an additional 13,571 shares during the last quarter. Brinker Capital Investments LLC grew its position in Synchrony Financial by 9.3% during the 4th quarter. Brinker Capital Investments LLC now owns 44,060 shares of the financial services provider’s stock worth $1,448,000 after acquiring an additional 3,747 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Synchrony Financial in the 4th quarter worth approximately $241,000. Greenleaf Trust grew its position in shares of Synchrony Financial by 15.2% in the 3rd quarter. Greenleaf Trust now owns 10,096 shares of the financial services provider’s stock worth $285,000 after buying an additional 1,329 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new stake in shares of Synchrony Financial in the 4th quarter worth approximately $1,160,000. 95.97% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Bart Schaller sold 11,071 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $36.25, for a total transaction of $401,323.75. Following the completion of the sale, the insider now owns 71,664 shares in the company, valued at approximately $2,597,820. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Bart Schaller sold 11,071 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $36.25, for a total value of $401,323.75. Following the completion of the transaction, the insider now owns 71,664 shares in the company, valued at approximately $2,597,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alberto Casellas sold 39,460 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $36.14, for a total value of $1,426,084.40. Following the sale, the insider now directly owns 70,040 shares in the company, valued at $2,531,245.60. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Synchrony Financial Stock Up 0.1 %

Synchrony Financial stock opened at $30.02 on Monday. The business has a fifty day moving average of $28.82 and a two-hundred day moving average of $32.86. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.20. The firm has a market cap of $12.87 billion, a P/E ratio of 5.29, a P/E/G ratio of 1.42 and a beta of 1.58. Synchrony Financial has a twelve month low of $26.59 and a twelve month high of $40.88.

Synchrony Financial (NYSE:SYF – Get Rating) last posted its earnings results on Wednesday, April 19th. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Synchrony Financial had a return on equity of 21.68% and a net margin of 14.93%. During the same quarter in the prior year, the company earned $1.73 EPS. On average, analysts forecast that Synchrony Financial will post 4.88 earnings per share for the current fiscal year.

Synchrony Financial announced that its board has approved a share buyback plan on Tuesday, April 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Tuesday, May 2nd were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, May 1st. This represents a $0.92 annualized dividend and a dividend yield of 3.06%. Synchrony Financial’s dividend payout ratio is presently 16.20%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SYF. JMP Securities raised their target price on Synchrony Financial from $39.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 24th. Credit Suisse Group cut their price objective on Synchrony Financial from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Tuesday, January 24th. JPMorgan Chase & Co. cut their price objective on Synchrony Financial from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, April 17th. Oppenheimer raised Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Friday, March 17th. Finally, Citigroup cut their price target on Synchrony Financial from $45.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Synchrony Financial currently has an average rating of “Hold” and an average target price of $37.53.

Synchrony Financial Company Profile

(Get Rating)

Synchrony Financial engages in the provision of consumer financial services. The firm is also involved in managing credit products through the following sales platforms: Home and Auto, Digital, Diversified and Value, Health and Wellness, and Lifestyle. The company was founded on September 12, 2003 and is headquartered in Stamford, CT.