Simplicity Wealth LLC Purchases 11,162 Shares of Synchrony Financial (NYSE:SYF)

Simplicity Wealth LLC grew its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 102.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,008 shares of the financial services provider's stock after purchasing an additional 11,162 shares during the quarter. Simplicity Wealth LLC's holdings in Synchrony Financial were worth $1,165,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SYF. Geode Capital Management LLC boosted its position in Synchrony Financial by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider's stock valued at $650,678,000 after buying an additional 205,641 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Synchrony Financial by 7.4% during the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider's stock valued at $358,105,000 after purchasing an additional 380,870 shares in the last quarter. Norges Bank purchased a new position in Synchrony Financial during the fourth quarter valued at $347,903,000. Northern Trust Corp boosted its stake in Synchrony Financial by 26.7% during the fourth quarter. Northern Trust Corp now owns 5,183,717 shares of the financial services provider's stock worth $336,942,000 after acquiring an additional 1,093,922 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Synchrony Financial by 9.1% in the fourth 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 acquiring an additional 382,194 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Analyst Upgrades and Downgrades

SYF has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their target price 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. JPMorgan Chase & Co. cut their price target 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. Morgan Stanley reiterated an "equal weight" rating and set a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Truist Financial dropped their target price on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $64.17.

Insider Buying and Selling

In related news, insider Jonathan S. Mothner sold 40,639 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the transaction, the insider now owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Synchrony Financial Stock Down 0.7%

NYSE SYF traded down $0.46 during trading hours on Thursday, reaching $61.33. 913,883 shares of the company's stock were exchanged, compared to its average volume of 3,906,969. The company has a market capitalization of $23.35 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. Synchrony Financial has a one year low of $40.55 and a one 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 company's 50-day moving average is $54.18 and its two-hundred day moving average is $59.89.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $3.80 billion. On average, analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently declared 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 of this dividend was Monday, May 5th. This represents a $1.20 annualized dividend and a yield of 1.96%. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio is presently 16.46%.

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.