Cresset Asset Management LLC Sells 40,008 Shares of Synchrony Financial (NYSE:SYF)

Cresset Asset Management LLC decreased its position in Synchrony Financial (NYSE:SYF - Free Report) by 89.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,850 shares of the financial services provider's stock after selling 40,008 shares during the quarter. Cresset Asset Management LLC's holdings in Synchrony Financial were worth $315,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SYF. Bogart Wealth LLC bought a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $26,000. TCTC Holdings LLC bought a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd boosted its stake in shares of Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock valued at $31,000 after buying an additional 253 shares during the period. Accredited Wealth Management LLC bought a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $38,000. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock valued at $52,000 after buying an additional 486 shares during the period. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Trading Down 0.4%

NYSE SYF traded down $0.26 on Tuesday, reaching $59.79. The company had a trading volume of 2,803,737 shares, compared to its average volume of 3,932,871. The firm has a market cap of $22.76 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 0.71 and a beta of 1.42. Synchrony Financial has a fifty-two week low of $40.55 and a fifty-two week high of $70.93. The business has a 50 day moving average of $52.23 and a two-hundred day moving average of $60.45. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $0.30 per share. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial's dividend payout ratio (DPR) is presently 16.46%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the sale, the insider now directly owns 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SYF shares. Evercore ISI cut their price target on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Bank of America boosted their price target on Synchrony Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Morgan Stanley restated an "equal weight" rating and set a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Wells Fargo & Company cut their target price on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, StockNews.com cut Synchrony Financial from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.95.

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.