26,122 Shares in Synchrony Financial (NYSE:SYF) Acquired by Woodline Partners LP

Woodline Partners LP purchased a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 26,122 shares of the financial services provider's stock, valued at approximately $1,698,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Apollon Wealth Management LLC raised its stake in shares of Synchrony Financial by 2.3% during the 4th quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider's stock worth $461,000 after purchasing an additional 160 shares in the last quarter. Covestor Ltd raised its stake in shares of Synchrony Financial by 6.0% during the 4th quarter. Covestor Ltd now owns 3,085 shares of the financial services provider's stock worth $200,000 after purchasing an additional 174 shares in the last quarter. Gladstone Institutional Advisory LLC raised its stake in shares of Synchrony Financial by 1.9% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider's stock worth $604,000 after purchasing an additional 176 shares in the last quarter. Smithfield Trust Co raised its stake in shares of Synchrony Financial by 19.7% during the 4th quarter. Smithfield Trust Co now owns 1,099 shares of the financial services provider's stock worth $69,000 after purchasing an additional 181 shares in the last quarter. Finally, CX Institutional raised its stake in shares of Synchrony Financial by 4.0% during the 4th quarter. CX Institutional now owns 5,755 shares of the financial services provider's stock worth $374,000 after purchasing an additional 222 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Performance

SYF traded down $0.76 during midday trading on Friday, reaching $57.49. The company's stock had a trading volume of 451,277 shares, compared to its average volume of 3,899,080. The stock has a market cap of $21.88 billion, a P/E ratio of 6.73, a PEG ratio of 0.71 and a beta of 1.42. The company has a fifty day simple moving average of $52.90 and a 200 day simple moving average of $60.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a twelve month low of $40.55 and a twelve month high of $70.93.

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

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio (DPR) is presently 16.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Cfra Research raised Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Truist Financial lowered their price objective on Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a report on Friday, April 25th. Morgan Stanley reissued an "equal weight" rating and set a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Evercore ISI lowered their price objective on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group lowered their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Synchrony Financial has an average rating of "Moderate Buy" and a consensus price target of $63.95.

Insider Transactions at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction that occurred on 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 sale, the insider now owns 146,628 shares of the company's stock, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

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.