Synchrony Financial (NYSE:SYF) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 1,245.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 232,161 shares of the financial services provider's stock after purchasing an additional 214,910 shares during the period. Synchrony Financial makes up about 0.4% of Edgestream Partners L.P.'s portfolio, making the stock its 17th biggest position. Edgestream Partners L.P. owned about 0.06% of Synchrony Financial worth $12,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Atria Investments Inc raised its stake in Synchrony Financial by 15.0% during the fourth quarter. Atria Investments Inc now owns 7,655 shares of the financial services provider's stock worth $498,000 after acquiring an additional 996 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Synchrony Financial during the 4th quarter worth approximately $10,530,000. Independent Advisor Alliance lifted its stake in Synchrony Financial by 12.8% in the 4th quarter. Independent Advisor Alliance now owns 14,410 shares of the financial services provider's stock valued at $937,000 after purchasing an additional 1,633 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Synchrony Financial by 19.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,432 shares of the financial services provider's stock valued at $483,000 after buying an additional 1,234 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Synchrony Financial by 46.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock valued at $53,000 after buying an additional 257 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial 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 transaction, the insider owned 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the transaction, the insider directly owned 108,062 shares of the company's stock, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Evercore ISI cut their price objective on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company boosted their price target on Synchrony Financial from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Barclays raised their price objective on shares of Synchrony Financial from $62.00 to $81.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. The Goldman Sachs Group boosted their target price on shares of Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Morgan Stanley raised their price target on shares of Synchrony Financial from $48.00 to $70.00 and gave the company an "equal weight" rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $70.63.

Synchrony Financial Trading Up 0.5%

Shares of NYSE SYF traded up $0.32 during trading hours on Monday, hitting $70.93. 2,559,673 shares of the company traded hands, compared to its average volume of 4,193,980. The company's 50 day moving average price is $61.65 and its 200 day moving average price is $59.62. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $71.88. The stock has a market capitalization of $27.00 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. On average, equities research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently disclosed 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 a positive change from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 1.69%. Synchrony Financial's dividend payout ratio is 16.46%.

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.