Texas Permanent School Fund Buys 1,927 Shares of Synchrony Financial (NYSE:SYF)

Texas Permanent School Fund raised its stake in shares of Synchrony Financial (NYSE:SYF – Get Rating) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,166 shares of the financial services provider’s stock after buying an additional 1,927 shares during the period. Texas Permanent School Fund’s holdings in Synchrony Financial were worth $1,922,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SYF. First Trust Advisors LP increased its stake in shares of Synchrony Financial by 853.5% in the first quarter. First Trust Advisors LP now owns 6,218,641 shares of the financial services provider’s stock worth $216,471,000 after purchasing an additional 5,566,481 shares during the period. Cooke & Bieler LP increased its stake in shares of Synchrony Financial by 19,813.0% in the second quarter. Cooke & Bieler LP now owns 2,441,336 shares of the financial services provider’s stock worth $67,430,000 after purchasing an additional 2,429,076 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Synchrony Financial by 380.6% in the second quarter. Assenagon Asset Management S.A. now owns 2,470,561 shares of the financial services provider’s stock worth $68,237,000 after purchasing an additional 1,956,492 shares during the period. Renaissance Technologies LLC bought a new position in shares of Synchrony Financial in the first quarter worth about $61,172,000. Finally, AQR Capital Management LLC increased its stake in shares of Synchrony Financial by 190.4% in the second quarter. AQR Capital Management LLC now owns 2,287,032 shares of the financial services provider’s stock worth $62,367,000 after purchasing an additional 1,499,472 shares during the period. 95.97% of the stock is currently owned by institutional investors.

Synchrony Financial Stock Up 1.7 %

NYSE SYF opened at $32.84 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average is $34.74 and its two-hundred day moving average is $33.07. The company has a market capitalization of $14.80 billion, a price-to-earnings ratio of 5.20, a PEG ratio of 0.92 and a beta of 1.61. Synchrony Financial has a 1-year low of $27.22 and a 1-year high of $50.20.

Synchrony Financial (NYSE:SYF – Get Rating) last announced its earnings results on Tuesday, October 25th. The financial services provider reported $1.47 EPS for the quarter, topping the consensus estimate of $1.42 by $0.05. The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.84 billion. Synchrony Financial had a return on equity of 25.56% and a net margin of 19.47%. Equities analysts forecast that Synchrony Financial will post 5.93 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Tuesday, November 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Monday, October 31st. Synchrony Financial’s payout ratio is currently 14.56%.

Insider Transactions at Synchrony Financial

In other news, insider Margaret M. Keane sold 68,369 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $36.50, for a total value of $2,495,468.50. Following the transaction, the insider now directly owns 762,786 shares of the company’s stock, valued at approximately $27,841,689. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Carol Juel sold 31,303 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $40.00, for a total value of $1,252,120.00. Following the completion of the transaction, the insider now owns 55,929 shares in the company, valued at approximately $2,237,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Margaret M. Keane sold 68,369 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $36.50, for a total transaction of $2,495,468.50. Following the completion of the transaction, the insider now owns 762,786 shares of the company’s stock, valued at approximately $27,841,689. The disclosure for this sale can be found here. 0.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SYF shares. JPMorgan Chase & Co. dropped their price objective on Synchrony Financial from $39.00 to $36.00 in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on Synchrony Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 26th. Credit Suisse Group lifted their target price on Synchrony Financial from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 26th. Piper Sandler decreased their target price on Synchrony Financial from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, September 26th. Finally, UBS Group initiated coverage on Synchrony Financial in a research report on Monday, November 21st. They set a “neutral” rating and a $42.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Synchrony Financial presently has an average rating of “Hold” and an average target price of $38.93.

About Synchrony Financial

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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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.