Center For Asset Management LLC Increases Stock Holdings in Synchrony Financial (NYSE:SYF)

Center For Asset Management LLC grew its stake in Synchrony Financial (NYSE:SYF - Free Report) by 64.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,881 shares of the financial services provider's stock after buying an additional 7,393 shares during the quarter. Center For Asset Management LLC's holdings in Synchrony Financial were worth $1,000,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Synchrony Financial during the 4th quarter worth about $347,903,000. Sachem Head Capital Management LP acquired a new stake in shares of Synchrony Financial during the 4th quarter worth about $142,838,000. Price T Rowe Associates Inc. MD raised its position in shares of Synchrony Financial by 340.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider's stock worth $163,303,000 after acquiring an additional 1,942,573 shares in the last quarter. Azora Capital LP raised its position in shares of Synchrony Financial by 700.5% during the 4th quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider's stock worth $137,010,000 after acquiring an additional 1,844,509 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of Synchrony Financial by 169.0% during the 4th quarter. Nuveen Asset Management LLC now owns 2,356,862 shares of the financial services provider's stock worth $153,196,000 after acquiring an additional 1,480,702 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Up 1.4%

Synchrony Financial stock opened at $62.34 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick ratio of 1.25. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $70.93. The company has a market cap of $23.73 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. The stock's 50 day moving average price is $56.21 and its 200 day moving average price is $59.60.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly 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 return on equity of 19.68% and a net margin of 13.00%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. On average, sell-side 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 paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.93%. Synchrony Financial's payout ratio is 16.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group cut their target price on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Cfra Research raised Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Evercore ISI cut their price target on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price target on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.78.

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 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 directly owns 146,628 shares in the company, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company's stock.

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.

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