Brooklyn Investment Group Makes New Investment in Synchrony Financial (NYSE:SYF)

Brooklyn Investment Group acquired a new stake in shares of Synchrony Financial (NYSE:SYF) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,208 shares of the financial services provider’s stock, valued at approximately $110,000.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Synchrony Financial by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,300,576 shares of the financial services provider’s stock valued at $56,082,000 after acquiring an additional 342,979 shares in the last quarter. Swedbank AB purchased a new position in Synchrony Financial in the 1st quarter worth approximately $3,465,000. PGGM Investments boosted its stake in Synchrony Financial by 91.4% in the 1st quarter. PGGM Investments now owns 156,316 shares of the financial services provider’s stock worth $6,740,000 after purchasing an additional 74,637 shares during the period. Invst LLC purchased a new stake in Synchrony Financial during the 1st quarter valued at approximately $815,000. Finally, Cetera Investment Advisers bought a new stake in shares of Synchrony Financial during the first quarter valued at approximately $2,192,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Down 0.1 %

Shares of SYF opened at $67.22 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $26.17 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.93 and a beta of 1.59. The company has a 50-day moving average of $56.94 and a 200 day moving average of $50.20. Synchrony Financial has a 1-year low of $29.65 and a 1-year high of $67.76.

Synchrony Financial (NYSE:SYF) last announced its quarterly 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 firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. 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 earned $1.48 earnings per share. On average, research analysts expect that Synchrony Financial will post 6.52 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SYF. Robert W. Baird set a $62.00 target price on shares of Synchrony Financial in a research note on Thursday, October 17th. JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of Synchrony Financial in a research report on Monday, October 14th. The Goldman Sachs Group boosted their target price on Synchrony Financial from $64.00 to $72.50 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, August 9th. Finally, Compass Point upped their price objective on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.43.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the business’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 completion of the transaction, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, the insider now 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. 0.33% of the stock is owned by company insiders.

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.