GAMMA Investing LLC Grows Holdings in Synchrony Financial (NYSE:SYF)

GAMMA Investing LLC lifted its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 5,889.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 496,260 shares of the financial services provider's stock after acquiring an additional 487,974 shares during the quarter. GAMMA Investing LLC owned approximately 0.13% of Synchrony Financial worth $26,272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC bought a new stake in shares of Synchrony Financial during the fourth quarter worth about $26,000. TCTC Holdings LLC bought a new position in Synchrony Financial in the 4th quarter valued at approximately $27,000. Y.D. More Investments Ltd boosted its position in Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock worth $31,000 after buying an additional 253 shares during the period. Accredited Wealth Management LLC bought a new stake in Synchrony Financial during the 4th quarter worth approximately $38,000. Finally, EverSource Wealth Advisors LLC increased its position in Synchrony Financial by 46.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 257 shares during the period. Institutional investors own 96.48% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYF. Wells Fargo & Company cut their price target on shares of Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Truist Financial reduced their price objective on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating for the company in a research report on Friday, April 25th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group lowered their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.95.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the 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 owns 146,628 shares in the company, valued at $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is owned by insiders.

Synchrony Financial Stock Performance

SYF traded up $1.84 during trading hours on Friday, hitting $59.29. The stock had a trading volume of 1,642,199 shares, compared to its average volume of 3,895,766. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $70.93. The company's fifty day simple moving average is $53.29 and its 200 day simple moving average is $60.00. The stock has a market cap of $22.57 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.26. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Equities analysts anticipate that Synchrony Financial will post 7.67 earnings per share 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 issued a $0.30 dividend. The ex-dividend date was Monday, May 5th. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.02%. Synchrony Financial's dividend payout ratio (DPR) 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.