Armstrong Fleming & Moore Inc Invests $329,000 in Synchrony Financial (NYSE:SYF)

Armstrong Fleming & Moore Inc purchased a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,212 shares of the financial services provider's stock, valued at approximately $329,000.

Other institutional investors have also modified their holdings of the company. Yousif Capital Management LLC raised its position in shares of Synchrony Financial by 7.0% during the 4th quarter. Yousif Capital Management LLC now owns 71,460 shares of the financial services provider's stock worth $4,645,000 after purchasing an additional 4,687 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Synchrony Financial during the 4th quarter worth approximately $823,000. Y.D. More Investments Ltd raised its position in shares of Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock worth $31,000 after purchasing an additional 253 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Synchrony Financial by 14.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,992 shares of the financial services provider's stock worth $3,378,000 after purchasing an additional 6,872 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Synchrony Financial by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 8,077 shares of the financial services provider's stock worth $525,000 after purchasing an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on SYF shares. The Goldman Sachs Group cut their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Truist Financial cut their price objective on Synchrony Financial from $65.00 to $57.00 and set a "hold" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price objective on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.95.

Synchrony Financial Trading Down 0.7%

SYF stock opened at $57.45 on Friday. The company has a market cap of $21.87 billion, a price-to-earnings ratio of 6.73, a PEG ratio of 0.71 and a beta of 1.42. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $53.29 and a 200-day simple moving average of $60.00. 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 quarterly earnings data 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 the consensus estimate of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. On average, equities research analysts expect that Synchrony Financial will post 7.67 EPS 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 dividend on an annualized basis and a dividend yield of 2.09%. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial's dividend payout ratio is presently 16.46%.

Insider Transactions at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 40,639 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 146,628 shares in the company, valued at $8,807,943.96. This represents a 21.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.32% of the company's stock.

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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