Synchrony Financial (NYSE:SYF) Reaches New 12-Month High at $44.45

Synchrony Financial (NYSE:SYF - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $44.45 and last traded at $43.97, with a volume of 1534969 shares. The stock had previously closed at $42.86.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SYF shares. Evercore ISI boosted their price target on shares of Synchrony Financial from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Morgan Stanley reaffirmed an "underweight" rating and issued a $30.00 price target on shares of Synchrony Financial in a report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Synchrony Financial in a research note on Wednesday, January 10th. They set a "buy" rating and a $56.00 price objective on the stock. Piper Sandler raised their price objective on Synchrony Financial from $46.00 to $48.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. Finally, Wolfe Research raised shares of Synchrony Financial from an "underperform" rating to an "outperform" rating and lifted their price target for the stock from $36.00 to $50.00 in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $41.44.

Synchrony Financial Trading Up 5.1 %

The firm has a market capitalization of $18.33 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 1.05 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. The company's 50-day simple moving average is $41.35 and its 200 day simple moving average is $36.64.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.10. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $4.45 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. As a group, sell-side analysts expect that Synchrony Financial will post 5.54 EPS for the current year.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Curtis Howse sold 6,179 shares of the company's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares of the company's stock, valued at approximately $6,534,503.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David P. Melito sold 7,283 shares of Synchrony Financial stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now directly owns 14,183 shares of the company's stock, valued at approximately $552,995.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,158 shares of company stock valued at $6,106,106. Corporate insiders own 0.65% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in Synchrony Financial by 995.4% in the first quarter. Assenagon Asset Management S.A. now owns 5,599,443 shares of the financial services provider's stock valued at $241,448,000 after purchasing an additional 5,088,262 shares during the last quarter. Invesco Ltd. boosted its holdings in Synchrony Financial by 16.0% during the third quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider's stock worth $167,187,000 after buying an additional 755,856 shares in the last quarter. Northern Trust Corp grew its position in Synchrony Financial by 3.7% during the third quarter. Northern Trust Corp now owns 4,973,509 shares of the financial services provider's stock valued at $152,040,000 after buying an additional 178,344 shares during the period. Norges Bank acquired a new position in shares of Synchrony Financial in the fourth quarter worth about $182,739,000. Finally, Boston Partners grew its position in shares of Synchrony Financial by 23.6% during the 4th quarter. Boston Partners now owns 3,826,080 shares of the financial services provider's stock valued at $146,112,000 after acquiring an additional 730,318 shares during the period. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

About Synchrony Financial

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.