4,888 Shares in Synchrony Financial (NYSE:SYF) Bought by Canoe Financial LP

Canoe Financial LP purchased a new position in Synchrony Financial (NYSE:SYF - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,888 shares of the financial services provider's stock, valued at approximately $259,000.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in Synchrony Financial by 43.9% in the first quarter. Blue Trust Inc. now owns 3,002 shares of the financial services provider's stock worth $159,000 after buying an additional 916 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Synchrony Financial by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 45,549 shares of the financial services provider's stock worth $2,411,000 after buying an additional 1,160 shares during the last quarter. CWA Asset Management Group LLC lifted its position in Synchrony Financial by 45.8% in the first quarter. CWA Asset Management Group LLC now owns 92,848 shares of the financial services provider's stock worth $4,915,000 after buying an additional 29,176 shares during the last quarter. Wolf Group Capital Advisors bought a new stake in Synchrony Financial in the first quarter worth $1,176,000. Finally, Clarius Group LLC bought a new stake in Synchrony Financial in the first quarter worth $242,000. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Price Performance

Shares of SYF stock opened at $62.34 on Friday. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $70.93. The stock's 50-day moving average is $56.21 and its 200 day moving average is $59.60. The company has a market cap of $23.73 billion, a P/E ratio of 8.55, a PEG ratio of 0.64 and a beta of 1.44. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued 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 19.68% and a net margin of 13.00%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. Research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The business 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 1.93%. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio (DPR) is presently 16.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SYF. Cfra Research upgraded Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their target price on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Evercore ISI reduced their target price on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley reiterated an "equal weight" rating and issued a $44.00 target price (down previously from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. 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 research note on Friday, June 13th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.78.

Insiders Place Their Bets

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company's stock.

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.

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