Exchange Traded Concepts LLC Acquires 8,242 Shares of Synchrony Financial (NYSE:SYF)

Exchange Traded Concepts LLC raised its position in Synchrony Financial (NYSE:SYF - Free Report) by 68.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 20,247 shares of the financial services provider's stock after acquiring an additional 8,242 shares during the period. Exchange Traded Concepts LLC's holdings in Synchrony Financial were worth $1,072,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of SYF. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Synchrony Financial by 303.8% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 135,766 shares of the financial services provider's stock worth $7,187,000 after purchasing an additional 102,147 shares during the last quarter. Ritholtz Wealth Management boosted its stake in Synchrony Financial by 28.1% in the 1st quarter. Ritholtz Wealth Management now owns 41,557 shares of the financial services provider's stock valued at $2,200,000 after purchasing an additional 9,121 shares during the period. Hennessy Advisors Inc. lifted its position in shares of Synchrony Financial by 12.5% during the 1st quarter. Hennessy Advisors Inc. now owns 18,000 shares of the financial services provider's stock valued at $953,000 after acquiring an additional 2,000 shares during the period. CVA Family Office LLC lifted its position in shares of Synchrony Financial by 355.9% during the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 541 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of Synchrony Financial by 3.1% during the 1st quarter. Fifth Third Bancorp now owns 28,248 shares of the financial services provider's stock valued at $1,495,000 after acquiring an additional 840 shares during the period. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Performance

Shares of SYF opened at $61.39 on Thursday. The firm has a market cap of $23.37 billion, a PE ratio of 8.42, a PEG ratio of 0.63 and a beta of 1.44. The stock's fifty day moving average price is $55.59 and its two-hundred day moving average price is $59.67. 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.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. The company had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. On average, equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current 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 dividend of $0.30 per share. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 5th. This represents a $1.20 annualized dividend and a yield of 1.95%. Synchrony Financial's dividend payout ratio (DPR) is currently 16.46%.

Insider Activity 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 sale, the insider now owns 146,628 shares of the company's stock, valued at $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Cfra Research raised Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Truist Financial increased their price target on Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research note on Friday, June 13th. Evercore ISI decreased their target price on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Synchrony Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.78.

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.

Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.