Synchrony Financial (NYSE:SYF) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc lifted its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 50.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 235,310 shares of the financial services provider's stock after purchasing an additional 79,382 shares during the period. TD Asset Management Inc owned about 0.06% of Synchrony Financial worth $12,457,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Accredited Wealth Management LLC purchased a new position in shares of Synchrony Financial during the 4th quarter worth approximately $38,000. CVA Family Office LLC boosted its stake in shares of Synchrony Financial by 355.9% in the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after buying an additional 541 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of Synchrony Financial by 55.6% in the 1st quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock worth $46,000 after purchasing an additional 308 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Synchrony Financial by 503.7% during the 1st quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock worth $51,000 after acquiring an additional 811 shares during the last quarter. Finally, Global Financial Private Client LLC grew its holdings in Synchrony Financial by 1,107.4% during the first quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 897 shares during the period. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Trading Down 3.2%

Shares of Synchrony Financial stock traded down $2.24 during mid-day trading on Friday, hitting $67.43. The stock had a trading volume of 5,021,678 shares, compared to its average volume of 3,300,371. The firm has a market cap of $25.09 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 0.69 and a beta of 1.49. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average of $65.23 and a two-hundred day moving average of $60.20. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $73.76.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $1.72 by $0.78. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.71 billion. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The company's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 EPS. Sell-side analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 5th. Synchrony Financial's dividend payout ratio is currently 14.56%.

Insider Activity

In other news, insider Jonathan S. Mothner sold 40,639 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the transaction, the insider directly owned 146,628 shares of the company's stock, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Curtis Howse sold 11,380 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the sale, the insider directly owned 108,062 shares in the company, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYF has been the subject of a number of research reports. Morgan Stanley increased their target price on Synchrony Financial from $48.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. The Goldman Sachs Group upped their price objective on Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada lifted their price target on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. JMP Securities lifted their target price on shares of Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 17th. Finally, Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.05.

Synchrony Financial Company 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.