SG Americas Securities LLC Makes New $2.93 Million Investment in Synchrony Financial (NYSE:SYF)

SG Americas Securities LLC purchased a new stake in shares of Synchrony Financial (NYSE:SYF - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 55,428 shares of the financial services provider's stock, valued at approximately $2,934,000.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Synchrony Financial by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider's stock valued at $650,678,000 after acquiring an additional 205,641 shares during the period. Allianz Asset Management GmbH increased its stake in Synchrony Financial by 7.4% in the 4th quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider's stock worth $358,105,000 after buying an additional 380,870 shares during the period. Norges Bank purchased a new position in Synchrony Financial in the 4th quarter worth about $347,903,000. Northern Trust Corp increased its stake in Synchrony Financial by 26.7% in the 4th quarter. Northern Trust Corp now owns 5,183,717 shares of the financial services provider's stock worth $336,942,000 after buying an additional 1,093,922 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Synchrony Financial by 9.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,576,854 shares of the financial services provider's stock worth $297,496,000 after buying an additional 382,194 shares during the period. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Trading Down 2.7%

NYSE:SYF traded down $1.68 during mid-day trading on Friday, reaching $59.76. The company's stock had a trading volume of 2,960,007 shares, compared to its average volume of 3,920,174. The company's fifty day simple moving average is $54.83 and its two-hundred day simple moving average is $59.75. 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 twelve month low of $40.55 and a twelve month high of $70.93. The stock has a market cap of $22.75 billion, a P/E ratio of 7.00, a P/E/G ratio of 0.71 and a beta of 1.44.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. On average, equities analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The firm also recently declared 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 represents a $1.20 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change 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 (DPR) is 16.46%.

Analyst Ratings Changes

Several research analysts have issued reports on SYF shares. Wells Fargo & Company dropped their target price on shares of Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley reiterated an "equal weight" rating and set a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Evercore ISI dropped their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Eight equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.78.

Insider Activity at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction dated 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 completion of the sale, the insider now directly owns 146,628 shares in the company, valued at $8,807,943.96. The trade was a 21.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company's stock.

About Synchrony Financial

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.