Synchrony Financial (NYSE:SYF) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its stake in Synchrony Financial (NYSE:SYF - Free Report) by 24.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,141 shares of the financial services provider's stock after purchasing an additional 4,962 shares during the period. Park Avenue Securities LLC's holdings in Synchrony Financial were worth $1,331,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC bought a new position in Synchrony Financial during the 4th quarter worth about $26,000. TCTC Holdings LLC bought a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC purchased a new position in Synchrony Financial during the fourth quarter valued at approximately $38,000. Rothschild Investment LLC raised its stake in Synchrony Financial by 55.6% in the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock worth $46,000 after buying an additional 308 shares in the last quarter. Finally, Global Financial Private Client LLC boosted its position in Synchrony Financial by 1,107.4% during the 1st quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock traded down $1.62 on Friday, hitting $59.82. The company's stock had a trading volume of 1,377,130 shares, compared to its average volume of 3,909,072. The company has a market capitalization of $22.77 billion, a price-to-earnings ratio of 7.01, a price-to-earnings-growth ratio of 0.71 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 debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day moving average price of $54.51 and a 200-day moving average price of $59.85.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, sell-side analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Monday, May 5th. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio is 16.46%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a report on Friday. The Goldman Sachs Group decreased their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Morgan Stanley reissued an "equal weight" rating and set a $44.00 target price (down previously from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. JPMorgan Chase & Co. decreased their price target on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Evercore ISI lowered their price objective on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Synchrony Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.78.

Insider Activity at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 40,639 shares of the company's stock in a transaction on 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 sale, the insider now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

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.