Kestra Private Wealth Services LLC Raises Position in Synchrony Financial (NYSE:SYF)

Kestra Private Wealth Services LLC raised its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 64.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,700 shares of the financial services provider's stock after purchasing an additional 5,372 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Synchrony Financial were worth $725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. LPL Financial LLC boosted its stake in shares of Synchrony Financial by 11.8% during the 4th quarter. LPL Financial LLC now owns 122,140 shares of the financial services provider's stock worth $7,939,000 after acquiring an additional 12,896 shares in the last quarter. Corebridge Financial Inc. lifted its stake in Synchrony Financial by 0.6% in the 4th quarter. Corebridge Financial Inc. now owns 98,670 shares of the financial services provider's stock valued at $6,414,000 after buying an additional 543 shares in the last quarter. Ausdal Financial Partners Inc. purchased a new stake in Synchrony Financial in the 4th quarter valued at approximately $203,000. Korea Investment CORP lifted its stake in Synchrony Financial by 10.2% in the 4th quarter. Korea Investment CORP now owns 561,690 shares of the financial services provider's stock valued at $36,510,000 after buying an additional 52,200 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Synchrony Financial by 12.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 639,133 shares of the financial services provider's stock valued at $42,681,000 after buying an additional 68,438 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Insider Buying and Selling at Synchrony Financial

In other news, 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 value of $2,441,184.73. Following the completion of the sale, the insider owned 146,628 shares of the company's stock, valued at $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the company's stock in a transaction dated 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 directly owned 108,062 shares of the company's stock, valued at $7,024,030. The trade was a 9.53% 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 Trading Down 0.1%

Shares of SYF stock traded down $0.07 on Monday, reaching $72.83. 435,257 shares of the stock were exchanged, compared to its average volume of 4,137,755. The stock has a market cap of $27.10 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 0.72 and a beta of 1.46. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average of $64.24 and a two-hundred day moving average of $59.96. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $73.42.

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

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $1.20 annualized dividend and a yield of 1.65%. Synchrony Financial's dividend payout ratio is currently 14.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SYF shares. Evercore ISI reduced their target price 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. JMP Securities upped their target price on 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 Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada upped their target price on Synchrony Financial from $75.00 to $78.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $74.17.

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.