Tidal Investments LLC Purchases 31,124 Shares of Synchrony Financial (NYSE:SYF)

Tidal Investments LLC increased its position in Synchrony Financial (NYSE:SYF) by 88.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,361 shares of the financial services provider’s stock after purchasing an additional 31,124 shares during the period. Tidal Investments LLC’s holdings in Synchrony Financial were worth $3,310,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Synchrony Financial by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 6,686,486 shares of the financial services provider’s stock valued at $315,381,000 after buying an additional 313,128 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Synchrony Financial by 14.6% in the 2nd quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock worth $264,917,000 after acquiring an additional 727,649 shares during the last quarter. Southpoint Capital Advisors LP lifted its position in Synchrony Financial by 37.9% in the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock valued at $229,448,000 after acquiring an additional 1,265,000 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Synchrony Financial by 3.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider’s stock valued at $221,830,000 after purchasing an additional 157,948 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Synchrony Financial by 18.7% during the 2nd quarter. Hsbc Holdings PLC now owns 3,131,599 shares of the financial services provider’s stock worth $147,599,000 after purchasing an additional 492,312 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Down 0.7 %

SYF stock opened at $68.06 on Friday. The stock has a fifty day moving average of $61.22 and a 200-day moving average of $52.18. Synchrony Financial has a fifty-two week low of $35.29 and a fifty-two week high of $69.39. The company has a market capitalization of $26.50 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 0.82 and a beta of 1.63. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.17. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.48 earnings per share. As a group, equities research analysts predict that Synchrony Financial will post 6.51 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the sale, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a report on Thursday, October 17th. Evercore ISI raised their price objective on Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen upped their target price on shares of Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a research report on Thursday, October 17th. Finally, JMP Securities restated a “market outperform” rating and set a $60.00 price target on shares of Synchrony Financial in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.53.

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.