44 Wealth Management LLC Makes New Investment in Synchrony Financial (NYSE:SYF)

44 Wealth Management LLC acquired a new stake in Synchrony Financial (NYSE:SYF - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 24,722 shares of the financial services provider's stock, valued at approximately $1,309,000.

Several other large investors also recently modified their holdings of the stock. TCTC Holdings LLC acquired a new position in shares of Synchrony Financial in the fourth quarter valued at approximately $27,000. CVA Family Office LLC grew its holdings in Synchrony Financial by 355.9% in the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock valued at $37,000 after buying an additional 541 shares in the last quarter. Accredited Wealth Management LLC acquired a new position in Synchrony Financial in the 4th quarter valued at $38,000. Rothschild Investment LLC lifted its holdings in shares of Synchrony Financial by 55.6% during the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock worth $46,000 after buying an additional 308 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Synchrony Financial by 503.7% in the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 811 shares during the period. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock traded up $0.78 during midday trading on Friday, hitting $70.25. 2,265,856 shares of the company traded hands, compared to its average volume of 3,875,644. The firm's fifty day moving average price is $59.52 and its 200-day moving average price is $59.52. The stock has a market cap of $26.74 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.73 and a beta of 1.46. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.26. The firm had revenue of $3.72 billion for 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%. As a group, sell-side analysts forecast 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. Investors of record on Monday, May 5th were given a dividend of $0.30 per share. The ex-dividend date was Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.71%. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's payout ratio is currently 16.46%.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 11,380 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the transaction, the insider owned 108,062 shares of the company's stock, valued at $7,024,030. This represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 40,639 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the transaction, the insider owned 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 disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SYF has been the subject of a number of recent research reports. Cfra Research raised shares of Synchrony Financial to a "hold" rating in a report on Tuesday, April 22nd. The Goldman Sachs Group boosted their price target on Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday. Morgan Stanley restated an "equal weight" rating and set a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Evercore ISI cut their target price on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial increased their target price on Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a report on Friday, June 13th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Synchrony Financial presently has an average rating of "Moderate Buy" and a consensus price target of $65.78.

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.