Summit Trail Advisors LLC Purchases 4,524 Shares of Synchrony Financial (NYSE:SYF)

Summit Trail Advisors LLC grew its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 69.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,032 shares of the financial services provider's stock after buying an additional 4,524 shares during the quarter. Summit Trail Advisors LLC's holdings in Synchrony Financial were worth $584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its position in Synchrony Financial by 22.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 21,203 shares of the financial services provider's stock worth $1,378,000 after purchasing an additional 3,824 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Synchrony Financial during the 4th quarter worth approximately $556,000. US Bancorp DE raised its holdings in shares of Synchrony Financial by 52.8% in the 4th quarter. US Bancorp DE now owns 64,485 shares of the financial services provider's stock worth $4,192,000 after purchasing an additional 22,269 shares during the period. Jones Financial Companies Lllp lifted its stake in Synchrony Financial by 116.5% in the fourth quarter. Jones Financial Companies Lllp now owns 11,059 shares of the financial services provider's stock valued at $719,000 after purchasing an additional 5,952 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Synchrony Financial during the fourth quarter valued at $57,000. 96.48% of the stock is owned by institutional investors.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the transaction, the insider directly owned 108,062 shares in the company, valued at $7,024,030. This trade represents a 9.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Mothner sold 40,639 shares of the 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 transaction, the insider directly owned 146,628 shares in the company, valued at approximately $8,807,943.96. This represents a 21.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Synchrony Financial Price Performance

SYF stock traded up $1.28 during midday trading on Wednesday, reaching $69.45. The company had a trading volume of 3,699,672 shares, compared to its average volume of 3,876,115. The firm has a 50-day moving average price of $58.76 and a 200-day moving average price of $59.44. The company has a market capitalization of $26.44 billion, a P/E ratio of 9.53, a P/E/G ratio of 0.69 and a beta of 1.46. 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 1.11, a current ratio of 1.25 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its earnings results 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 company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. On average, research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.30 per share. The ex-dividend date was Monday, May 5th. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 1.73%. Synchrony Financial's dividend payout ratio is 16.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYF shares. The Goldman Sachs Group upped their price target on Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday. Wall Street Zen raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. cut their price objective 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. Truist Financial lifted their price objective on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research note on Friday, June 13th. Finally, Cfra Research upgraded Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Synchrony Financial presently has a consensus rating of "Moderate Buy" and an average target price of $65.78.

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.