QRG Capital Management Inc. Buys 10,587 Shares of Synchrony Financial (NYSE:SYF)

QRG Capital Management Inc. increased its position in Synchrony Financial (NYSE:SYF) by 3.7% in the third quarter, Holdings Channel.com reports. The fund owned 298,134 shares of the financial services provider’s stock after acquiring an additional 10,587 shares during the quarter. QRG Capital Management Inc.’s holdings in Synchrony Financial were worth $14,871,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in Synchrony Financial in the 1st quarter valued at $28,000. Altshuler Shaham Ltd purchased a new stake in shares of Synchrony Financial in the second quarter worth $31,000. International Assets Investment Management LLC bought a new stake in Synchrony Financial during the second quarter valued at $33,000. WR Wealth Planners LLC grew its position in Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after buying an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Synchrony Financial in the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SYF shares. Barclays lifted their target price on shares of Synchrony Financial from $49.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Friday, August 9th. The Goldman Sachs Group lifted their price target on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. increased their price objective on Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Finally, BTIG Research downgraded Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.60.

Insider Transactions at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the transaction, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Synchrony Financial Trading Up 0.1 %

NYSE SYF opened at $55.06 on Tuesday. The firm has a market capitalization of $21.44 billion, a PE ratio of 7.19, a P/E/G ratio of 1.10 and a beta of 1.59. The stock’s 50 day moving average is $51.32 and its 200 day moving average is $47.80. Synchrony Financial has a twelve month low of $28.84 and a twelve month high of $57.37. 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 released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the firm earned $1.48 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Research analysts forecast that Synchrony Financial will post 6.28 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. Synchrony Financial’s payout ratio is 13.05%.

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.