Synchrony Financial (NYSE:SYF) is Southpoint Capital Advisors LP's Largest Position

Southpoint Capital Advisors LP cut its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,000,000 shares of the financial services provider's stock after selling 600,000 shares during the period. Synchrony Financial accounts for 6.1% of Southpoint Capital Advisors LP's investment portfolio, making the stock its biggest position. Southpoint Capital Advisors LP owned approximately 1.03% of Synchrony Financial worth $260,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bogart Wealth LLC purchased a new stake in shares of Synchrony Financial during the 4th quarter valued at $26,000. TCTC Holdings LLC purchased a new stake in shares of Synchrony Financial during the 4th quarter valued at $27,000. Y.D. More Investments Ltd raised its position in shares of Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock valued at $31,000 after buying an additional 253 shares in the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of Synchrony Financial during the 4th quarter valued at $38,000. Finally, Raleigh Capital Management Inc. raised its position in shares of Synchrony Financial by 151.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock valued at $52,000 after buying an additional 486 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Trading Up 0.4%

SYF stock traded up $0.24 during trading on Thursday, reaching $57.48. The company had a trading volume of 3,137,166 shares, compared to its average volume of 3,929,084. Synchrony Financial has a 52 week low of $40.55 and a 52 week high of $70.93. The company has a market cap of $21.88 billion, a P/E ratio of 6.73, a PEG ratio of 0.71 and a beta of 1.42. The business has a 50 day moving average of $52.46 and a 200 day moving average of $60.42. 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 (NYSE:SYF - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. As a group, sell-side analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a dividend of $0.30 per share. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.09%. Synchrony Financial's dividend payout ratio (DPR) is currently 16.46%.

Insider Activity

In other news, insider Jonathan S. Mothner sold 40,639 shares of the firm'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 transaction, the insider now directly owns 146,628 shares in the company, valued at $8,807,943.96. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Royal Bank of Canada upped their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a "sector perform" rating in a research report on Wednesday, January 29th. Morgan Stanley restated an "equal weight" rating and set a $44.00 price target (down from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. The Goldman Sachs Group cut their price target on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Finally, Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday. Eight 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.95.

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.