Allianz Asset Management GmbH Purchases 358,708 Shares of Synchrony Financial (NYSE:SYF)

Allianz Asset Management GmbH grew its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,868,022 shares of the financial services provider's stock after acquiring an additional 358,708 shares during the quarter. Allianz Asset Management GmbH owned about 1.54% of Synchrony Financial worth $310,653,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SYF. CVA Family Office LLC raised its stake in Synchrony Financial by 355.9% during 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 during the last quarter. Accredited Wealth Management LLC purchased a new position in shares of Synchrony Financial in the 4th quarter worth $38,000. Rothschild Investment LLC grew its holdings in shares of Synchrony Financial by 55.6% in the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock worth $46,000 after acquiring an additional 308 shares during the period. Golden State Wealth Management LLC lifted its holdings in 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. Finally, Global Financial Private Client LLC grew its stake in shares of Synchrony Financial by 1,107.4% during the 1st quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 897 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction 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 in the company, valued at $8,807,943.96. This trade represents a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the sale, the insider owned 108,062 shares in the company, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their ownership of the stock. 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 topic of a number of research reports. The Goldman Sachs Group raised their price objective on shares of Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada lifted their price target on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Truist Financial raised their target price on Synchrony Financial from $68.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday. Finally, BTIG Research upgraded Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Synchrony Financial has an average rating of "Moderate Buy" and a consensus target price of $74.17.

Synchrony Financial Price Performance

SYF stock traded up $0.06 during mid-day trading on Thursday, hitting $72.14. The company had a trading volume of 1,321,739 shares, compared to its average volume of 4,145,188. The company has a market capitalization of $26.84 billion, a price-to-earnings ratio of 8.75, a P/E/G ratio of 0.74 and a beta of 1.46. The company has a 50-day moving average price of $63.77 and a 200 day moving average price of $59.96. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $72.73.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.78. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the company earned $1.55 earnings per share. The firm's revenue was down 1.8% on a year-over-year basis. On average, research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.66%. The ex-dividend date is Tuesday, August 5th. Synchrony Financial's dividend payout ratio is presently 16.46%.

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.