Assenagon Asset Management S.A. Sells 269,165 Shares of Synchrony Financial (NYSE:SYF)

Assenagon Asset Management S.A. trimmed its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 42.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 360,720 shares of the financial services provider's stock after selling 269,165 shares during the period. Assenagon Asset Management S.A. owned approximately 0.09% of Synchrony Financial worth $19,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Apollon Wealth Management LLC lifted its stake in shares of Synchrony Financial by 2.3% in the 4th quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider's stock valued at $461,000 after purchasing an additional 160 shares during the period. Kestra Private Wealth Services LLC lifted its position in Synchrony Financial by 43.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 8,328 shares of the financial services provider's stock valued at $541,000 after buying an additional 2,539 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its position in shares of Synchrony Financial by 1.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider's stock worth $604,000 after purchasing an additional 176 shares in the last quarter. Avestar Capital LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter worth about $250,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of Synchrony Financial by 7.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider's stock worth $11,787,000 after purchasing an additional 12,492 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock traded down $1.68 during midday trading on Friday, hitting $59.76. The company had a trading volume of 2,960,007 shares, compared to its average volume of 3,918,253. The stock has a market cap of $22.75 billion, a PE ratio of 7.00, a P/E/G ratio of 0.71 and a beta of 1.44. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $70.93. The business's 50 day simple moving average is $54.83 and its two-hundred day simple moving average is $59.80. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.63 by $0.26. The firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. As a group, equities analysts predict that Synchrony Financial will post 7.67 EPS 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 issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 5th. Synchrony Financial's payout ratio is currently 16.46%.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, 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 completion of the sale, the insider now directly owns 146,628 shares of the company's stock, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Truist Financial increased their price target on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research note on Friday. JPMorgan Chase & Co. dropped their price target on shares of 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 dropped their price target on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Synchrony Financial currently has an average rating of "Moderate Buy" and a consensus target price of $64.78.

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.