Asset Management One Co. Ltd. Acquires 10,675 Shares of Synchrony Financial (NYSE:SYF)

Asset Management One Co. Ltd. boosted its stake in Synchrony Financial (NYSE:SYF - Free Report) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 189,486 shares of the financial services provider's stock after purchasing an additional 10,675 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Synchrony Financial were worth $10,031,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. TCTC Holdings LLC acquired a new stake in Synchrony Financial in the fourth quarter worth $27,000. CVA Family Office LLC grew its holdings in Synchrony Financial by 355.9% in the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after purchasing an additional 541 shares during the period. Accredited Wealth Management LLC acquired a new stake in Synchrony Financial in the fourth quarter worth $38,000. Rothschild Investment LLC grew its holdings in 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 purchasing an additional 308 shares during the period. Finally, Global Financial Private Client LLC grew its holdings in Synchrony Financial by 1,107.4% in the first quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock worth $52,000 after purchasing an additional 897 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Up 0.6%

Shares of SYF traded up $0.37 during trading hours on Friday, reaching $66.20. 3,960,706 shares of the stock traded hands, compared to its average volume of 3,900,317. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11. The stock has a fifty day simple moving average of $57.61 and a 200 day simple moving average of $59.52. Synchrony Financial has a 52 week low of $40.55 and a 52 week high of $70.93. The company has a market cap of $25.20 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 0.67 and a beta of 1.44.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results 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 net margin of 13.00% and a return on equity of 19.68%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. On average, equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, May 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.81%. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio (DPR) is presently 16.46%.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 11,380 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the sale, the insider now owns 108,062 shares in the company, valued at $7,024,030. This trade represents a 9.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the sale, the insider now 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 disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $44.00 price objective (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Wells Fargo & Company dropped their price objective on shares of Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Truist Financial raised their price objective on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research note on Friday, June 13th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.78.

Synchrony Financial Company 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.