Synchrony Financial (NYSE:SYF) Given New $82.00 Price Target at The Goldman Sachs Group

Synchrony Financial (NYSE:SYF) had its target price hoisted by The Goldman Sachs Group from $72.50 to $82.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 24.62% from the company’s previous close.

SYF has been the subject of a number of other reports. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $85.00 in a report on Tuesday, December 3rd. Evercore ISI upped their price target on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Compass Point raised their price objective on Synchrony Financial from $60.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their target price on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $59.00 to $72.00 in a research report on Monday, December 9th. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus target price of $65.43.

Synchrony Financial Stock Down 1.2 %

Shares of NYSE:SYF opened at $65.80 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm has a market cap of $25.62 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.82 and a beta of 1.64. The stock’s 50-day moving average price is $65.55 and its two-hundred day moving average price is $55.11. Synchrony Financial has a 12-month low of $35.29 and a 12-month high of $69.39.

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

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares of the company’s stock, valued at $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction 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. The trade was a 18.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SYF. CWA Asset Management Group LLC increased its position in Synchrony Financial by 28.8% in the fourth quarter. CWA Asset Management Group LLC now owns 63,672 shares of the financial services provider’s stock worth $4,139,000 after buying an additional 14,255 shares during the period. Nordea Investment Management AB grew its position in Synchrony Financial by 18.5% in the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after purchasing an additional 481,750 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $123,000. GAMMA Investing LLC raised its holdings in shares of Synchrony Financial by 23.5% during the fourth quarter. GAMMA Investing LLC now owns 8,286 shares of the financial services provider’s stock valued at $539,000 after buying an additional 1,575 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Synchrony Financial by 2.2% during the third quarter. Principal Financial Group Inc. now owns 487,720 shares of the financial services provider’s stock worth $24,327,000 after buying an additional 10,294 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

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.