Rhumbline Advisers Has $49.25 Million Stake in Synchrony Financial (NYSE:SYF)

Rhumbline Advisers grew its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 7.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 930,362 shares of the financial services provider's stock after acquiring an additional 61,436 shares during the quarter. Rhumbline Advisers owned about 0.24% of Synchrony Financial worth $49,253,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. BTC Capital Management Inc. raised its stake in shares of Synchrony Financial by 25.9% in the 1st quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock worth $3,485,000 after buying an additional 13,526 shares in the last quarter. Rothschild Investment LLC raised its stake in shares of Synchrony Financial by 55.6% in the 1st 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. Global Financial Private Client LLC raised its stake in shares of Synchrony Financial by 1,107.4% in the 1st quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock worth $52,000 after buying an additional 897 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Synchrony Financial by 5,889.1% in the 1st quarter. GAMMA Investing LLC now owns 496,260 shares of the financial services provider's stock worth $26,272,000 after buying an additional 487,974 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Synchrony Financial by 18.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,411 shares of the financial services provider's stock worth $128,000 after buying an additional 370 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company's stock.

Synchrony Financial Stock Down 0.7%

Synchrony Financial stock traded down $0.43 during mid-day trading on Thursday, hitting $57.45. The company's stock had a trading volume of 2,520,332 shares, compared to its average volume of 3,904,648. The firm's 50 day moving average is $53.20 and its 200 day moving average is $60.05. The company has a market cap of $21.87 billion, a PE ratio of 6.73, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a 52-week low of $40.55 and a 52-week high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 18.30% and a net margin of 15.36%. On average, analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.30 dividend. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.09%. The ex-dividend date was Monday, May 5th. Synchrony Financial's dividend payout ratio is presently 16.46%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SYF. Truist Financial dropped their price objective on Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group dropped their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Morgan Stanley reissued an "equal weight" rating and issued a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Wells Fargo & Company cut their target price on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Evercore ISI cut their target price on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $63.95.

Insiders Place Their Bets

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 146,628 shares of the company's stock, valued at $8,807,943.96. This represents a 21.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company's stock.

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.