Oppenheimer & Co. Inc. Has $867,000 Stake in Synchrony Financial (NYSE:SYF)

Oppenheimer & Co. Inc. lowered its position in Synchrony Financial (NYSE:SYF) by 36.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,379 shares of the financial services provider’s stock after selling 10,154 shares during the period. Oppenheimer & Co. Inc.’s holdings in Synchrony Financial were worth $867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new position in shares of Synchrony Financial during the 2nd quarter worth $31,000. International Assets Investment Management LLC bought a new stake in Synchrony Financial in the second quarter worth $33,000. WR Wealth Planners LLC increased 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 during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Synchrony Financial during the second quarter valued at about $39,000. Finally, Family Firm Inc. acquired a new stake in shares of Synchrony Financial in the second quarter worth about $42,000. Institutional investors own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Synchrony Financial from $53.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Robert W. Baird set a $62.00 price objective on shares of Synchrony Financial in a report on Thursday, October 17th. Barclays lifted their target price on shares of Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group boosted their price objective on Synchrony Financial from $64.00 to $72.50 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the firm’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 sale, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Down 0.6 %

Shares of NYSE:SYF opened at $63.65 on Wednesday. The company’s fifty day moving average is $54.69 and its 200-day moving average is $49.36. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a 52 week low of $29.15 and a 52 week high of $67.76. The company has a market capitalization of $24.78 billion, a PE ratio of 8.31, a P/E/G ratio of 0.90 and a beta of 1.59.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 earnings per share. Equities research analysts predict that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.57%. Synchrony Financial’s dividend payout ratio is 13.05%.

Synchrony Financial 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.