Oppenheimer & Co. Inc. Has $1.38 Million Stake in Synchrony Financial (NYSE:SYF)

Oppenheimer & Co. Inc. raised its position in Synchrony Financial (NYSE:SYF - Free Report) by 23.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 26,103 shares of the financial services provider's stock after buying an additional 4,900 shares during the period. Oppenheimer & Co. Inc.'s holdings in Synchrony Financial were worth $1,382,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Consolidated Planning Corp lifted its holdings in Synchrony Financial by 1.2% during the first quarter. Consolidated Planning Corp now owns 114,538 shares of the financial services provider's stock worth $6,064,000 after acquiring an additional 1,398 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Synchrony Financial in the first quarter valued at about $598,000. Center For Asset Management LLC increased its position in shares of Synchrony Financial by 64.4% in the first quarter. Center For Asset Management LLC now owns 18,881 shares of the financial services provider's stock valued at $1,000,000 after acquiring an additional 7,393 shares during the last quarter. PFG Investments LLC increased its position in shares of Synchrony Financial by 47.4% in the first quarter. PFG Investments LLC now owns 4,540 shares of the financial services provider's stock valued at $240,000 after acquiring an additional 1,460 shares during the last quarter. Finally, Canoe Financial LP acquired a new stake in shares of Synchrony Financial in the first quarter valued at about $259,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 shares were sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the transaction, the insider now directly owns 146,628 shares of the company's stock, valued at approximately $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the transaction, the insider now directly owns 108,062 shares of the company's stock, valued at approximately $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on SYF shares. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Wells Fargo & Company decreased their price objective on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Evercore ISI decreased their price objective on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Truist Financial increased their price target on Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a report on Friday, June 13th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.78.

Synchrony Financial Stock Up 0.6%

Synchrony Financial stock opened at $66.20 on Friday. The firm has a market capitalization of $25.20 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 0.68 and a beta of 1.44. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $70.93. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11. The firm has a 50 day simple moving average of $57.98 and a 200 day simple moving average of $59.45.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating 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 firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. On average, analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

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

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.

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