Envestnet Asset Management Inc. Boosts Position in Synchrony Financial (NYSE:SYF)

Envestnet Asset Management Inc. raised its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 236,967 shares of the financial services provider's stock after purchasing an additional 5,765 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of Synchrony Financial worth $12,545,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC boosted its position in shares of Synchrony Financial by 355.9% during the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after acquiring an additional 541 shares during the last quarter. Accredited Wealth Management LLC purchased a new stake in Synchrony Financial during the fourth quarter valued at $38,000. Rothschild Investment LLC raised its stake in Synchrony Financial by 55.6% during the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 308 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Synchrony Financial by 503.7% during the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 811 shares during the last quarter. Finally, Global Financial Private Client LLC grew its stake in shares of Synchrony Financial by 1,107.4% in the 1st quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock worth $52,000 after buying an additional 897 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Price Performance

Shares of SYF opened at $70.09 on Friday. The firm has a market capitalization of $26.68 billion, a PE ratio of 9.61, a P/E/G ratio of 0.72 and a beta of 1.46. The stock's 50 day moving average is $63.18 and its two-hundred day moving average is $59.82. Synchrony Financial has a twelve month low of $40.55 and a twelve month high of $71.88. 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 released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.30 dividend. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.20 annualized dividend and a yield of 1.71%. Synchrony Financial's dividend payout ratio (DPR) is 16.46%.

Analyst Ratings Changes

Several brokerages recently issued reports on SYF. JMP Securities increased their price objective on Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a research note on Thursday. BTIG Research raised shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a report on Monday, July 14th. Evercore ISI dropped their target price 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. Barclays boosted their price target on Synchrony Financial from $62.00 to $81.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price objective on Synchrony Financial from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $73.22.

Insider Buying and Selling

In other news, insider Curtis Howse sold 11,380 shares of the business'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 value of $739,700.00. Following the completion of the sale, the insider directly owned 108,062 shares in the company, valued at approximately $7,024,030. The trade was a 9.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction dated Monday, May 19th. The shares were 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 directly owned 146,628 shares of the company's stock, valued at $8,807,943.96. This trade represents a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company's stock.

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.

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