AMF Tjanstepension AB Raises Stock Holdings in Synchrony Financial (NYSE:SYF)

AMF Tjanstepension AB lifted its holdings in Synchrony Financial (NYSE:SYF) by 91.5% in the second quarter, HoldingsChannel reports. The firm owned 221,453 shares of the financial services provider’s stock after purchasing an additional 105,823 shares during the quarter. AMF Tjanstepension AB’s holdings in Synchrony Financial were worth $10,459,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in shares of Synchrony Financial during the 1st quarter valued at about $28,000. Versant Capital Management Inc increased its position in shares of Synchrony Financial by 786.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,055 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 936 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Synchrony Financial during the 1st quarter valued at $60,000. Brown Brothers Harriman & Co. lifted its position in Synchrony Financial by 56.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after buying an additional 522 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Synchrony Financial during the fourth quarter worth $55,000. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF stock traded down $0.01 during trading hours on Wednesday, hitting $44.30. The company’s stock had a trading volume of 3,718,332 shares, compared to its average volume of 4,195,278. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average of $46.57 and a 200 day moving average of $43.44. Synchrony Financial has a 12-month low of $27.30 and a 12-month high of $52.67. The stock has a market cap of $17.79 billion, a PE ratio of 6.36, a price-to-earnings-growth ratio of 1.06 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter last year, the company earned $1.32 EPS. On average, sell-side analysts forecast that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be issued a $0.25 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. Synchrony Financial’s payout ratio is 14.35%.

Synchrony Financial announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYF. Compass Point initiated coverage on shares of Synchrony Financial in a report on Tuesday, July 16th. They issued a “buy” rating and a $56.00 target price for the company. Wells Fargo & Company boosted their target price on Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Bank of America increased their price target on Synchrony Financial from $51.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. The Goldman Sachs Group upped their price objective on Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Insiders Place Their Bets

In related news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the sale, the insider now directly owns 49,390 shares in the company, valued at $2,510,987.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

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.