Pictet Asset Management Ltd. raised its stake in Synchrony Financial (NYSE:SYF) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 321,456 shares of the financial services provider’s stock after buying an additional 14,300 shares during the period. Pictet Asset Management Ltd.’s holdings in Synchrony Financial were worth $10,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Garrett Wealth Advisory Group LLC purchased a new stake in Synchrony Financial in the 3rd quarter valued at about $26,000. Executive Wealth Management LLC purchased a new stake in Synchrony Financial during the second quarter valued at approximately $27,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Synchrony Financial during the second quarter valued at approximately $29,000. Captrust Financial Advisors lifted 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 valued at $29,000 after acquiring an additional 643 shares during the last quarter. Finally, Capital Investment Advisory Services LLC purchased a new stake in Synchrony Financial during the second quarter valued at approximately $30,000. 86.85% of the stock is owned by institutional investors.

Shares of Synchrony Financial stock opened at $37.14 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 1.35. Synchrony Financial has a 12-month low of $21.77 and a 12-month high of $37.60. The firm has a market capitalization of $24.17 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 0.94 and a beta of 1.16. The firm’s 50 day simple moving average is $36.03 and its two-hundred day simple moving average is $34.63.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the business posted $0.91 EPS. On average, sell-side analysts predict that Synchrony Financial will post 4.26 EPS 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 paid a dividend of $0.22 per share. The ex-dividend date was Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a yield of 2.37%. Synchrony Financial’s payout ratio is 23.53%.

In other Synchrony Financial news, Director Will W. Graylin sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $33.71, for a total transaction of $252,825.00. Following the transaction, the director now owns 76,662 shares in the company, valued at approximately $2,584,276.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

A number of research firms recently commented on SYF. Nomura set a $43.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a research report on Monday, October 21st. Bank of America began coverage on shares of Synchrony Financial in a research report on Monday. They set a “buy” rating and a $42.00 target price for the company. Finally, Oppenheimer set a $39.00 target price 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 assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $39.31.

Synchrony Financial Company 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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