KBC Group NV Has $57.83 Million Stock Position in Synchrony Financial (NYSE:SYF)

KBC Group NV lowered its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,092,307 shares of the financial services provider's stock after selling 9,284 shares during the period. KBC Group NV owned approximately 0.28% of Synchrony Financial worth $57,826,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SYF. Sovran Advisors LLC grew its stake in Synchrony Financial by 3.7% in the first quarter. Sovran Advisors LLC now owns 23,710 shares of the financial services provider's stock valued at $1,255,000 after acquiring an additional 838 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Synchrony Financial by 30.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider's stock valued at $3,895,000 after acquiring an additional 17,061 shares during the period. Vista Investment Partners II LLC grew its stake in Synchrony Financial by 1.2% in the first quarter. Vista Investment Partners II LLC now owns 52,246 shares of the financial services provider's stock valued at $2,766,000 after acquiring an additional 608 shares during the period. 3Chopt Investment Partners LLC acquired a new stake in Synchrony Financial in the first quarter valued at approximately $270,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Synchrony Financial by 12.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,344 shares of the financial services provider's stock valued at $3,031,000 after acquiring an additional 6,352 shares during the period. Institutional investors and hedge funds own 96.48% of the company's stock.

Insider Buying and Selling

In other news, insider Jonathan S. Mothner sold 40,639 shares of the 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 transaction, the insider now owns 146,628 shares of the company's stock, valued at approximately $8,807,943.96. This represents a 21.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Curtis Howse sold 11,380 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the transaction, the insider now directly owns 108,062 shares of the company's stock, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $66.20 on Monday. The stock has a market cap of $25.20 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.68 and a beta of 1.44. Synchrony Financial has a fifty-two week low of $40.55 and a fifty-two week high of $70.93. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a fifty day moving average of $57.98 and a 200-day moving average of $59.39.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 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 analysts' expectations of $3.80 billion. Equities research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, May 5th. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 1.81%. Synchrony Financial's dividend payout ratio is currently 16.46%.

Analyst Ratings Changes

SYF has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley reissued an "equal weight" rating and issued a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their target price on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Cfra Research raised Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Truist Financial lifted their target price on Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, June 13th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.

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