Synchrony Financial (NYSE:SYF) Shares Purchased by Strategic Investment Advisors MI

Strategic Investment Advisors MI lifted its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 79.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,627 shares of the financial services provider's stock after purchasing an additional 23,669 shares during the period. Strategic Investment Advisors MI's holdings in Synchrony Financial were worth $2,839,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SYF. TCTC Holdings LLC purchased a new position in Synchrony Financial during the 4th quarter worth $27,000. CVA Family Office LLC boosted its stake in shares of Synchrony Financial by 355.9% during the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after buying an additional 541 shares during the period. Accredited Wealth Management LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter worth about $38,000. Rothschild Investment LLC grew its holdings in shares of Synchrony Financial by 55.6% during 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 during the last quarter. Finally, Global Financial Private Client LLC increased its position in 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 valued at $52,000 after acquiring an additional 897 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYF has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an "equal weight" rating and set a $44.00 price objective (down from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. 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. The Goldman Sachs Group lowered their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Eight research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.78.

Synchrony Financial Price Performance

SYF traded up $0.94 during trading on Thursday, reaching $65.87. 2,210,776 shares of the stock were exchanged, compared to its average volume of 3,895,604. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 9.04, 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 business's 50 day moving average price is $57.25 and its two-hundred day moving average price is $59.54.

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 the consensus estimate of $1.63 by $0.26. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. As a group, equities research analysts anticipate 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. Investors of record on Monday, May 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio (DPR) is currently 16.46%.

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 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 directly owns 146,628 shares in the company, valued at $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

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.