Livforsakringsbolaget Skandia Omsesidigt Acquires 11,800 Shares of Synchrony Financial (NYSE:SYF)

Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,812 shares of the financial services provider's stock after purchasing an additional 11,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Synchrony Financial were worth $7,822,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Synchrony Financial by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider's stock valued at $650,678,000 after purchasing an additional 205,641 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Synchrony Financial by 7.4% in the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider's stock valued at $358,105,000 after buying an additional 380,870 shares in the last quarter. Norges Bank bought a new position in Synchrony Financial in the fourth quarter valued at approximately $347,903,000. Northern Trust Corp lifted its stake in Synchrony Financial by 26.7% in the fourth quarter. Northern Trust Corp now owns 5,183,717 shares of the financial services provider's stock valued at $336,942,000 after buying an additional 1,093,922 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Synchrony Financial by 9.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,576,854 shares of the financial services provider's stock valued at $297,496,000 after buying an additional 382,194 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Stock Performance

NYSE:SYF traded down $0.28 on Thursday, hitting $61.51. The company's stock had a trading volume of 1,951,065 shares, compared to its average volume of 4,333,626. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The stock has a fifty day moving average of $54.18 and a two-hundred day moving average of $59.89. The firm has a market capitalization of $23.41 billion, a P/E ratio of 7.20, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. Synchrony Financial has a one year low of $40.54 and a one year high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a $0.30 dividend. 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 1.95%. The ex-dividend date was Monday, May 5th. Synchrony Financial's dividend payout ratio is currently 16.46%.

Wall Street Analyst Weigh In

SYF has been the topic of several research reports. Truist Financial cut their price objective on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a research report on Friday, April 25th. The Goldman Sachs Group cut their price target on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company cut their price target on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. 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 note on Tuesday, April 8th. Finally, Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Eight research 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $64.17.

Insider Buying and Selling at Synchrony Financial

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 transaction, the insider now owns 146,628 shares in the company, valued at $8,807,943.96. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company's stock.

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.