J. Safra Sarasin Holding AG Boosts Stake in Synchrony Financial (NYSE:SYF)

Key Points

• J. Safra Sarasin Holding AG has increased its stake in Synchrony Financial by 109.1%, owning 57,246 shares valued at $3,031,000 following the purchase of an additional 29,870 shares in the first quarter.
• The company recently announced a quarterly dividend of $0.30, set to be paid on August 15th, with an annualized yield of 1.8% and a payout ratio of 14.56%.
• Analysts have raised their price targets for Synchrony Financial, with JMP Securities setting a new target of $77.00, while Wells Fargo increased theirs to $80.00, reflecting overall positive sentiment towards the stock.

J. Safra Sarasin Holding AG raised its position in Synchrony Financial (NYSE:SYF - Free Report) by 109.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,246 shares of the financial services provider's stock after buying an additional 29,870 shares during the period. J. Safra Sarasin Holding AG's holdings in Synchrony Financial were worth $3,031,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Accredited Wealth Management LLC purchased a new position in Synchrony Financial in the 4th quarter valued at about $38,000. CVA Family Office LLC boosted its position in Synchrony Financial by 355.9% in the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock valued at $37,000 after buying an additional 541 shares during the last quarter. TCTC Holdings LLC boosted its position in Synchrony Financial by 89.0% in the 1st quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock valued at $42,000 after buying an additional 371 shares during the last quarter. Rothschild Investment LLC raised its stake in shares of Synchrony Financial by 55.6% in the 1st 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. Finally, Golden State Wealth Management LLC raised its stake in shares of Synchrony Financial by 503.7% in the 1st 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 in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the company'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 owned 108,062 shares in the company, valued at approximately $7,024,030. This represents a 9.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Mothner sold 40,639 shares of the company's 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 of the company's stock, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Synchrony Financial Price Performance

SYF opened at $67.43 on Friday. The firm has a market cap of $25.09 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 0.67 and a beta of 1.49. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $73.76. The company's 50-day moving average price is $65.44 and its 200 day moving average price is $60.16. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $1.72 by $0.78. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The firm had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. Synchrony Financial's quarterly revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a $0.30 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $1.20 annualized dividend and a yield of 1.8%. Synchrony Financial's dividend payout ratio is 14.56%.

Analysts Set New Price Targets

SYF has been the topic of a number of recent analyst reports. JMP Securities upped their target price on shares of Synchrony Financial from $68.00 to $77.00 and gave the company a "market outperform" rating in a research note on Thursday, July 17th. The Goldman Sachs Group upped their target price on shares of Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company upped their target price on shares of Synchrony Financial from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Morgan Stanley upped their target price 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, July 10th. Finally, Rothschild & Co Redburn initiated coverage on shares of Synchrony Financial in a research note on Friday. They issued a "neutral" rating and a $72.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.05.

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.

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