Brighton Jones LLC Boosts Holdings in Synchrony Financial (NYSE:SYF)

Brighton Jones LLC grew its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 155.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,074 shares of the financial services provider's stock after buying an additional 12,816 shares during the period. Brighton Jones LLC's holdings in Synchrony Financial were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. TCTC Holdings LLC bought a new position in Synchrony Financial during the fourth quarter valued at $27,000. Accredited Wealth Management LLC bought a new position in shares of Synchrony Financial in the 4th quarter valued at about $38,000. CVA Family Office LLC lifted its holdings in shares of Synchrony Financial by 355.9% in the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 541 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Synchrony Financial by 46.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock worth $53,000 after acquiring an additional 257 shares in the last quarter. Finally, Rothschild Investment LLC increased its stake in 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 acquiring an additional 308 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SYF. Wells Fargo & Company dropped their target price on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Evercore ISI reduced their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley restated an "equal weight" rating and issued a $44.00 target price (down previously from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Cfra Research raised shares of Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Truist Financial increased their price objective on shares of Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a research report on Friday, June 13th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Synchrony Financial has a consensus rating of "Moderate Buy" and a consensus price target of $64.78.

Synchrony Financial Stock Up 2.3%

Shares of SYF stock traded up $1.42 on Wednesday, hitting $61.70. The stock had a trading volume of 315,235 shares, compared to its average volume of 4,273,144. Synchrony Financial has a one year low of $40.54 and a one year high of $70.93. The business has a 50 day moving average price of $55.38 and a 200 day moving average price of $59.66. The company has a market cap of $23.48 billion, a PE ratio of 8.47, a P/E/G ratio of 0.64 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.11.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping 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 firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.80 billion. Research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.95%. The ex-dividend date 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 16.46%.

Insider Buying and Selling at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 40,639 shares of the business's stock in a transaction on 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 completion of the transaction, the insider now directly owns 146,628 shares of the company's stock, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% 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.