Maverick Capital Ltd. Buys Shares of 28,086 Synchrony Financial (NYSE:SYF)

Maverick Capital Ltd. purchased a new stake in Synchrony Financial (NYSE:SYF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 28,086 shares of the financial services provider’s stock, valued at approximately $1,325,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. MBB Public Markets I LLC acquired a new position in shares of Synchrony Financial during the 2nd quarter worth approximately $1,477,000. AQR Capital Management LLC increased its position in Synchrony Financial by 14.6% during the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock worth $264,917,000 after buying an additional 727,649 shares in the last quarter. AXA S.A. raised its holdings in shares of Synchrony Financial by 8.4% in the second quarter. AXA S.A. now owns 428,786 shares of the financial services provider’s stock worth $20,234,000 after acquiring an additional 33,334 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new stake in shares of Synchrony Financial in the second quarter valued at $951,000. Finally, Caxton Associates LP lifted its position in shares of Synchrony Financial by 10.2% in the second quarter. Caxton Associates LP now owns 92,200 shares of the financial services provider’s stock valued at $4,351,000 after acquiring an additional 8,521 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $49.65 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $19.62 billion, a P/E ratio of 7.12, a PEG ratio of 1.13 and a beta of 1.62. The firm has a fifty day moving average of $48.18 and a 200-day moving average of $45.51. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $52.67.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the company posted $1.32 earnings per share. As a group, analysts predict that Synchrony Financial will post 5.79 EPS for the current year.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, August 5th. Synchrony Financial’s dividend payout ratio (DPR) is 14.35%.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the transaction, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bart Schaller sold 930 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a research note on Thursday, July 18th. Jefferies Financial Group boosted their price objective on shares of Synchrony Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their target price on shares of Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Wells Fargo & Company boosted their price target on Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, Compass Point began coverage on Synchrony Financial in a report on Tuesday, July 16th. They set a “buy” rating and a $56.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Synchrony Financial has a consensus rating of “Moderate Buy” and a consensus target price of $50.41.

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.