Burney Co. Sells 158,114 Shares of Synchrony Financial (NYSE:SYF)

Burney Co. trimmed its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 55.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,170 shares of the financial services provider's stock after selling 158,114 shares during the period. Burney Co.'s holdings in Synchrony Financial were worth $6,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Accredited Wealth Management LLC acquired a new position in shares of Synchrony Financial in the fourth quarter valued at approximately $38,000. CVA Family Office LLC lifted its holdings in shares of Synchrony Financial by 355.9% in the 1st 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 in the last quarter. Rothschild Investment LLC lifted its holdings in shares of Synchrony Financial by 55.6% in the 1st quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock worth $46,000 after purchasing an additional 308 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in Synchrony Financial by 503.7% during the 1st 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 in the last quarter. Finally, Global Financial Private Client LLC lifted its stake in 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 acquiring an additional 897 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Trading Up 2.0%

SYF opened at $70.80 on Wednesday. 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 moving average price of $63.18 and a 200-day moving average price of $59.78. The firm has a market cap of $26.34 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.72 and a beta of 1.46. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $71.88.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.78. The company had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.71 billion. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. Synchrony Financial's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. As a group, equities research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.69%. Synchrony Financial's payout ratio is currently 16.46%.

Wall Street Analyst Weigh In

SYF has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Synchrony Financial from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. JMP Securities boosted their price objective on Synchrony Financial from $68.00 to $77.00 and gave the company a "market outperform" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. boosted their target price on Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. BTIG Research raised Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Monday, July 14th. Finally, Evercore ISI cut 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. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.17.

Insider Buying and Selling

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the company's stock in a transaction that occurred on 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 directly owned 108,062 shares of the company's stock, valued at $7,024,030. This represents a 9.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction on 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 transaction, the insider directly owned 146,628 shares of the company's stock, valued at approximately $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

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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