XTX Topco Ltd Buys Shares of 20,281 Synchrony Financial (NYSE:SYF)

Key Points

• XTX Topco Ltd has acquired a new position in Synchrony Financial, purchasing 20,281 shares valued at approximately $1.07 million.
• The firm declared a quarterly dividend of $0.30, with an annualized yield of 1.8%, to be paid on August 15th.
• Recent research has seen analysts set new target prices for Synchrony Financial, with a consensus average target of about $74.05 and several upgrades to "buy" ratings.

XTX Topco Ltd acquired a new position in Synchrony Financial (NYSE:SYF - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,281 shares of the financial services provider's stock, valued at approximately $1,074,000.

Other hedge funds have also modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Synchrony Financial during the 1st quarter valued at about $3,652,000. GSA Capital Partners LLP bought a new stake in Synchrony Financial in the first quarter worth $1,236,000. Federated Hermes Inc. increased its position in Synchrony Financial by 543.5% during the first quarter. Federated Hermes Inc. now owns 538,284 shares of the financial services provider's stock valued at $28,497,000 after acquiring an additional 454,640 shares during the last quarter. TCTC Holdings LLC lifted its holdings in shares of Synchrony Financial by 89.0% in the 1st quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock worth $42,000 after acquiring an additional 371 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Synchrony Financial by 6.6% during the 1st quarter. LPL Financial LLC now owns 130,209 shares of the financial services provider's stock valued at $6,893,000 after purchasing an additional 8,069 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Jonathan S. Mothner sold 40,639 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the sale, the insider owned 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the transaction, the insider directly owned 108,062 shares of the company's stock, valued at $7,024,030. This represents a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Wells Fargo & Company boosted their target price on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Cfra Research upgraded Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Rothschild & Co Redburn initiated coverage on Synchrony Financial in a research note on Friday. They issued a "neutral" rating and a $72.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.05.

Synchrony Financial Stock Performance

Shares of SYF stock traded up $1.73 during trading hours on Monday, hitting $69.26. The stock had a trading volume of 3,862,711 shares, compared to its average volume of 3,551,556. The firm has a market capitalization of $25.77 billion, a PE ratio of 8.41, a PEG ratio of 0.67 and a beta of 1.49. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $73.76. The stock's 50 day moving average is $65.44 and its 200 day moving average is $60.10. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last released 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. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. Synchrony Financial's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Synchrony Financial's payout ratio is presently 14.56%.

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.