Los Angeles Capital Management LLC Sells 540,513 Shares of Synchrony Financial (NYSE:SYF)

Los Angeles Capital Management LLC lessened its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 27.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,403,304 shares of the financial services provider's stock after selling 540,513 shares during the period. Los Angeles Capital Management LLC owned about 0.37% of Synchrony Financial worth $74,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. CVA Family Office LLC boosted its position in shares of Synchrony Financial by 355.9% during the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after acquiring an additional 541 shares in the last quarter. Accredited Wealth Management LLC acquired a new stake in Synchrony Financial in the fourth quarter valued at approximately $38,000. Rothschild Investment LLC boosted its position in Synchrony Financial by 55.6% in the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock valued at $46,000 after buying an additional 308 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Synchrony Financial by 503.7% in the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock valued at $51,000 after buying an additional 811 shares in the last quarter. Finally, Global Financial Private Client LLC boosted its position in Synchrony Financial by 1,107.4% in the first quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock valued at $52,000 after buying an additional 897 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company's stock.

Insider Buying and Selling

In other news, insider Curtis Howse sold 11,380 shares of Synchrony Financial 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial 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 owned 146,628 shares of the company's stock, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company's stock.

Synchrony Financial Trading Down 0.1%

Shares of SYF opened at $70.09 on Friday. Synchrony Financial has a 52-week low of $40.55 and a 52-week high of $71.88. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.11. The firm's fifty day moving average is $63.18 and its two-hundred day moving average is $59.82. The stock has a market cap of $26.68 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 0.72 and a beta of 1.46.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. Research analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.71%. 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%.

Analyst Upgrades and Downgrades

SYF has been the topic of a number of recent research reports. Truist Financial lifted their price target on shares of Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a report on Friday, June 13th. BTIG Research upgraded shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Monday, July 14th. Barclays lifted their price target on shares of Synchrony Financial from $62.00 to $81.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their target price on shares of Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group lifted their price target 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. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.22.

Synchrony Financial Company 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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