MQS Management LLC Makes New $375,000 Investment in Synchrony Financial (NYSE:SYF)

MQS Management LLC acquired a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,091 shares of the financial services provider's stock, valued at approximately $375,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter worth $27,000. Accredited Wealth Management LLC acquired a new stake in Synchrony Financial in the 4th quarter valued at $38,000. CVA Family Office LLC increased its stake 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. EverSource Wealth Advisors LLC increased its stake in Synchrony Financial by 46.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock valued at $53,000 after buying an additional 257 shares during the last quarter. Finally, Rothschild Investment LLC increased its stake in 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 buying an additional 308 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Curtis Howse sold 11,380 shares of the company'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 transaction of $739,700.00. Following the completion of the sale, the insider owned 108,062 shares of the company's stock, valued at approximately $7,024,030. This represents a 9.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Mothner sold 40,639 shares of the company's stock in a transaction that occurred 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 sale, the insider directly 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. Corporate insiders own 0.33% of the company's stock.

Synchrony Financial Stock Performance

SYF traded down $1.39 on Tuesday, reaching $69.49. The company had a trading volume of 510,320 shares, compared to its average volume of 4,165,498. 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 market cap of $26.45 billion, a P/E ratio of 9.53, a P/E/G ratio of 0.73 and a beta of 1.46. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $71.88. The company's fifty day moving average is $61.99 and its 200 day moving average is $59.66.

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

Synchrony Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a $0.30 dividend. The ex-dividend date was Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.73%. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's payout ratio is currently 16.46%.

Analyst Ratings Changes

Several brokerages have issued reports on SYF. Truist Financial lifted their price target on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research note on Friday, June 13th. Barclays lifted their price target on shares of Synchrony Financial from $62.00 to $81.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. BTIG Research upgraded shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Wells Fargo & Company boosted their price objective on shares of Synchrony Financial from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Synchrony Financial has an average rating of "Moderate Buy" and a consensus price target of $70.63.

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.