Synchrony Financial (NYSE:SYF) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 11.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,297 shares of the financial services provider's stock after purchasing an additional 11,658 shares during the quarter. IFM Investors Pty Ltd's holdings in Synchrony Financial were worth $5,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Covestor Ltd lifted its stake in shares of Synchrony Financial by 6.0% during the fourth quarter. Covestor Ltd now owns 3,085 shares of the financial services provider's stock worth $200,000 after purchasing an additional 174 shares in the last quarter. Gotham Asset Management LLC lifted its stake in shares of Synchrony Financial by 2.0% during the fourth quarter. Gotham Asset Management LLC now owns 11,505 shares of the financial services provider's stock worth $748,000 after purchasing an additional 226 shares in the last quarter. Invst LLC lifted its stake in shares of Synchrony Financial by 1.2% during the fourth quarter. Invst LLC now owns 20,560 shares of the financial services provider's stock worth $1,336,000 after purchasing an additional 239 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Synchrony Financial by 0.6% during the fourth quarter. Great Lakes Advisors LLC now owns 40,139 shares of the financial services provider's stock worth $2,609,000 after purchasing an additional 240 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in shares of Synchrony Financial by 3.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,741 shares of the financial services provider's stock worth $568,000 after acquiring an additional 253 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company's stock.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the sale, the insider directly owned 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 document filed with the SEC, which is available at this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the company'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 owned 108,062 shares of the company's stock, valued at $7,024,030. This trade represents a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

SYF has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price target on Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. 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 research note on Tuesday, July 1st. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Truist Financial boosted their price target on Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a research note on Friday, June 13th. Finally, 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 note on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Synchrony Financial has a consensus rating of "Moderate Buy" and a consensus target price of $65.78.

Synchrony Financial Stock Performance

Shares of NYSE SYF traded down $0.47 during midday trading on Monday, hitting $69.69. 2,935,515 shares of the company's stock were exchanged, compared to its average volume of 3,869,335. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick ratio of 1.25. The stock's 50 day moving average price is $59.89 and its 200-day moving average price is $59.48. The firm has a market cap of $26.53 billion, a P/E ratio of 9.56, a PEG ratio of 0.73 and a beta of 1.46. Synchrony Financial has a twelve month low of $40.55 and a twelve month high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. Equities research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.72%. 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. Synchrony Financial's dividend payout ratio is 16.46%.

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.