16,273 Synchrony Financial $SYF Shares Bought by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group increased its Synchrony Financial stake by 16,273 shares, or 1.9%, to 883,231 shares, valued at about $62.7 million; institutional investors own 96.48% of the stock.
• Synchrony reported quarterly earnings of $2.68 per share, beating the $2.42 analyst consensus, with revenue of $3.82 billion. The company also declared a $0.34 quarterly dividend, equivalent to a 1.8% yield.
• Analysts have a Moderate Buy consensus rating and an average price target of $87.78; shares opened at $75.19 in the session described.

Sumitomo Mitsui Trust Group Inc. increased its position in Synchrony Financial (NYSE:SYF - Free Report) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 883,231 shares of the financial services provider's stock after acquiring an additional 16,273 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Synchrony Financial worth $62,683,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SYF. BlackRock Inc. bought a new stake in shares of Synchrony Financial in the 2nd quarter worth $2,349,452,000. Bank of America Corp DE purchased a new position in shares of Synchrony Financial in the second quarter worth $1,122,961,000. Legal & General Group Plc bought a new position in shares of Synchrony Financial during the second quarter valued at $209,305,000. Bank of New York Mellon Corp bought a new position in shares of Synchrony Financial during the second quarter valued at $193,684,000. Finally, Deutsche Bank AG purchased a new stake in shares of Synchrony Financial during the second quarter valued at $186,973,000. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Stock Down 2.1%

SYF opened at $75.19 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. Synchrony Financial has a 1-year low of $63.08 and a 1-year high of $88.77. The company has a market capitalization of $23.42 billion, a PE ratio of 7.90, a PEG ratio of 0.95 and a beta of 1.40. The firm's 50 day simple moving average is $74.87 and its two-hundred day simple moving average is $73.62.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.26. Synchrony Financial had a net margin of 14.59% and a return on equity of 22.26%. The business had revenue of $3.82 billion for the quarter, compared to analysts' expectations of $3.81 billion. During the same quarter last year, the company posted $2.86 EPS. As a group, equities analysts forecast that Synchrony Financial will post 9.60 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 5th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 5th. This represents a $1.36 annualized dividend and a yield of 1.8%. Synchrony Financial's payout ratio is 14.20%.

Wall Street Analyst Weigh In

SYF has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Synchrony Financial from $86.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. Jefferies Financial Group reaffirmed a "buy" rating and set a $103.00 price target on shares of Synchrony Financial in a report on Tuesday, October 20th. Wells Fargo & Company dropped their price target on shares of Synchrony Financial from $95.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Synchrony Financial from $74.00 to $77.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 21st. Finally, Morgan Stanley decreased their price objective on shares of Synchrony Financial from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Monday, October 12th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Synchrony Financial has an average rating of "Moderate Buy" and an average price target of $87.78.

Synchrony Financial Company Profile

Synchrony Financial NYSE: SYF is a consumer financial services company that provides private-label credit cards, co-branded credit cards and promotional financing programs. Its financing products are offered through retailers, manufacturers, healthcare providers and other businesses, helping consumers pay for purchases over time.

The company serves a range of industries, including digital commerce, home improvement, furniture, automotive, healthcare, jewelry, apparel, electronics and specialty retail.

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