3Chopt Investment Partners LLC Invests $270,000 in Synchrony Financial (NYSE:SYF)

3Chopt Investment Partners LLC acquired a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,101 shares of the financial services provider's stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter worth $27,000. CVA Family Office LLC lifted its stake in shares of Synchrony Financial by 355.9% during the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after buying an additional 541 shares during the period. Accredited Wealth Management LLC acquired a new position in Synchrony Financial during the fourth quarter valued at $38,000. Rothschild Investment LLC lifted its position in Synchrony Financial by 55.6% during the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 308 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in Synchrony Financial by 503.7% during the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 811 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Up 0.6%

SYF stock opened at $66.20 on Friday. The stock has a market capitalization of $25.20 billion, a P/E ratio of 9.08, a P/E/G ratio of 0.68 and a beta of 1.44. The firm has a 50-day simple moving average of $57.98 and a 200-day simple moving average of $59.45. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.11. Synchrony Financial has a 52 week low of $40.55 and a 52 week high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.26. The business had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. Equities analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.30 per share. 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. Synchrony Financial's payout ratio is presently 16.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SYF shares. Evercore ISI decreased their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group decreased their target price on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Truist Financial boosted their target price on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, June 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.78.

Insider Buying and Selling

In related news, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the transaction, the insider now directly owns 108,062 shares in the company, valued at approximately $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 40,639 shares of the business's 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 transaction, the insider now owns 146,628 shares in the company, valued at $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

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.

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