Synchrony Financial (NYSE:SYF) Shares Purchased by Pictet Asset Management Ltd.

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Pictet Asset Management Ltd. increased its position in shares of Synchrony Financial (NYSE:SYF) by 4.7% in the 3rd quarter, Holdings reports. The firm owned 321,456 shares of the financial services provider’s stock after acquiring an additional 14,300 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Synchrony Financial were worth $10,958,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SYF. Garrett Wealth Advisory Group LLC acquired a new stake in Synchrony Financial during the third quarter worth about $26,000. Executive Wealth Management LLC acquired a new stake in Synchrony Financial during the second quarter worth about $27,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Synchrony Financial during the second quarter worth about $29,000. Captrust Financial Advisors increased its position in Synchrony Financial by 321.5% during the second quarter. Captrust Financial Advisors now owns 843 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 643 shares during the last quarter. Finally, Capital Investment Advisory Services LLC acquired a new stake in Synchrony Financial during the second quarter worth about $30,000. Hedge funds and other institutional investors own 86.85% of the company’s stock.

Shares of SYF opened at $37.14 on Tuesday. Synchrony Financial has a 1-year low of $21.77 and a 1-year high of $37.60. The stock has a market cap of $24.17 billion, a PE ratio of 9.93, a P/E/G ratio of 0.94 and a beta of 1.16. The firm has a 50-day simple moving average of $36.03 and a two-hundred day simple moving average of $34.63. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.38 and a quick ratio of 1.26.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Synchrony Financial had a net margin of 19.54% and a return on equity of 20.05%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the business earned $0.91 earnings per share. As a group, sell-side analysts expect that Synchrony Financial will post 4.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Friday, November 1st. Synchrony Financial’s dividend payout ratio is presently 23.53%.

Several equities research analysts recently issued reports on the stock. Nomura set a $43.00 price objective on shares of Synchrony Financial and gave the stock a “buy” rating in a research report on Monday, October 21st. Bank of America assumed coverage on shares of Synchrony Financial in a research report on Monday. They set a “buy” rating and a $42.00 price target for the company. Finally, Oppenheimer set a $39.00 price target on shares of Synchrony Financial and gave the company a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $39.31.

In other Synchrony Financial news, Director Will W. Graylin sold 7,500 shares of Synchrony Financial stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $33.71, for a total transaction of $252,825.00. Following the completion of the sale, the director now directly owns 76,662 shares in the company, valued at $2,584,276.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

Synchrony Financial Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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