Janney Montgomery Scott LLC Buys 18,171 Shares of Synchrony Financial (NYSE:SYF)

Janney Montgomery Scott LLC grew its stake in shares of Synchrony Financial (NYSE:SYF) by 396.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,759 shares of the financial services provider’s stock after purchasing an additional 18,171 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Synchrony Financial were worth $1,135,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Synchrony Financial by 1.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock worth $997,000 after buying an additional 227 shares during the period. Wedmont Private Capital boosted its stake in Synchrony Financial by 3.3% during the third quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock worth $387,000 after buying an additional 242 shares during the period. 1832 Asset Management L.P. boosted its stake in Synchrony Financial by 0.5% during the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after buying an additional 251 shares during the period. Signaturefd LLC boosted its stake in Synchrony Financial by 2.7% during the third quarter. Signaturefd LLC now owns 9,877 shares of the financial services provider’s stock worth $493,000 after buying an additional 261 shares during the period. Finally, Certuity LLC boosted its stake in Synchrony Financial by 0.8% during the second quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock worth $1,478,000 after buying an additional 264 shares during the period. Institutional investors own 96.48% of the company’s stock.

Insiders Place Their Bets

In other news, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction 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. This trade represents a 49.49 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $64.98 on Friday. The company has a market capitalization of $25.30 billion, a PE ratio of 8.50, a P/E/G ratio of 1.25 and a beta of 1.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. The company has a 50-day simple moving average of $53.67 and a two-hundred day simple moving average of $48.89. Synchrony Financial has a one year low of $28.84 and a one year high of $67.76.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The business 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 firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share. Research analysts expect that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. Synchrony Financial’s dividend payout ratio is presently 13.05%.

Analysts Set New Price Targets

Several research analysts have commented on SYF shares. TD Cowen lifted their price objective 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. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, August 9th. Robert W. Baird set a $62.00 target price on shares of Synchrony Financial in a research note on Thursday, October 17th. BTIG Research lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Finally, Compass Point boosted their target price on shares of Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.60.

Synchrony Financial Company 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.