Pendal Group Ltd boosted its position in Synchrony Financial (NYSE:SYF) by 35.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 543,876 shares of the financial services provider’s stock after acquiring an additional 141,449 shares during the period. Pendal Group Ltd owned 0.08% of Synchrony Financial worth $18,856,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allstate Corp boosted its stake in shares of Synchrony Financial by 7.9% during the 1st quarter. Allstate Corp now owns 74,158 shares of the financial services provider’s stock valued at $2,366,000 after purchasing an additional 5,414 shares in the last quarter. AQR Capital Management LLC lifted its position in Synchrony Financial by 65.2% during the 1st quarter. AQR Capital Management LLC now owns 10,848,426 shares of the financial services provider’s stock valued at $346,065,000 after acquiring an additional 4,281,422 shares during the period. Intrust Bank NA lifted its position in Synchrony Financial by 8.0% during the 1st quarter. Intrust Bank NA now owns 19,272 shares of the financial services provider’s stock valued at $615,000 after acquiring an additional 1,430 shares during the period. Grove Bank & Trust lifted its position in Synchrony Financial by 5.4% during the 2nd quarter. Grove Bank & Trust now owns 7,619 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 390 shares during the period. Finally, Piedmont Investment Advisors Inc. lifted its position in Synchrony Financial by 0.6% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 113,612 shares of the financial services provider’s stock valued at $3,624,000 after acquiring an additional 623 shares during the period. 88.53% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on SYF shares. Buckingham Research started coverage on shares of Synchrony Financial in a research report on Monday, July 22nd. They set a “buy” rating and a $42.00 price target for the company. BMO Capital Markets set a $43.00 price target on shares of Synchrony Financial and gave the company a “buy” rating in a research report on Sunday, July 21st. Nomura lifted their price target on shares of Synchrony Financial from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. BTIG Research reissued a “buy” rating and set a $42.00 price target on shares of Synchrony Financial in a research report on Monday, July 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price target on shares of Synchrony Financial in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. Synchrony Financial has a consensus rating of “Buy” and a consensus target price of $38.43.

Shares of SYF traded up $0.73 during mid-day trading on Tuesday, hitting $34.64. 3,886,681 shares of the company traded hands, compared to its average volume of 4,221,285. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.25 and a current ratio of 1.36. The business has a 50-day moving average price of $35.39. Synchrony Financial has a 1 year low of $21.77 and a 1 year high of $36.87. The company has a market cap of $23.39 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.81 and a beta of 1.19.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Synchrony Financial had a net margin of 17.82% and a return on equity of 19.50%. During the same period in the previous year, the company earned $0.92 earnings per share. Equities analysts expect that Synchrony Financial will post 4.21 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be given a $0.22 dividend. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, August 2nd. Synchrony Financial’s dividend payout ratio is presently 23.53%.

In related news, insider Margaret M. Keane sold 125,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $33.82, for a total transaction of $4,227,500.00. Following the sale, the insider now owns 648,901 shares of the company’s stock, valued at $21,945,831.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $115,344.00. Following the sale, the insider now directly owns 23,567 shares in the company, valued at approximately $848,412. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Synchrony Financial Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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