Synchrony Financial (NYSE:SYF) Holdings Lifted by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. increased its holdings in Synchrony Financial by 14% in Q1, acquiring an additional 6,013 shares, bringing its total to 48,872 shares worth $2.58 million.
• In recent insider trading, executive Curtis Howse sold 11,380 shares for approximately $739,700, marking a 9.53% decrease in his ownership.
• Synchrony Financial announced a quarterly dividend of $0.30 per share, with a dividend yield of 1.7%, to be paid on August 15th.

iA Global Asset Management Inc. lifted its position in Synchrony Financial (NYSE:SYF - Free Report) by 14.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,872 shares of the financial services provider's stock after acquiring an additional 6,013 shares during the period. iA Global Asset Management Inc.'s holdings in Synchrony Financial were worth $2,587,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC raised its position 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 worth $37,000 after acquiring an additional 541 shares in the last quarter. Accredited Wealth Management LLC bought a new position in Synchrony Financial during the 4th quarter valued at approximately $38,000. TCTC Holdings LLC increased its position in Synchrony Financial by 89.0% during the 1st quarter. TCTC Holdings LLC now owns 788 shares of the financial services provider's stock valued at $42,000 after buying an additional 371 shares in the last quarter. Rothschild Investment LLC increased its position in Synchrony Financial by 55.6% during the 1st quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock valued at $46,000 after buying an additional 308 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in Synchrony Financial by 503.7% during the 1st quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock valued at $51,000 after buying an additional 811 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Insider Buying and Selling

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the sale, the insider directly owned 108,062 shares of the company's stock, valued at approximately $7,024,030. The trade was a 9.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darrell Owens sold 600 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $67.95, for a total transaction of $40,770.00. Following the sale, the insider directly owned 21,372 shares of the company's stock, valued at $1,452,227.40. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,133 shares of company stock worth $3,817,635. Corporate insiders own 0.32% of the company's stock.

Synchrony Financial Trading Up 1.3%

Shares of SYF stock traded up $0.91 during trading on Friday, hitting $69.36. 2,890,325 shares of the stock traded hands, compared to its average volume of 3,631,697. The firm has a market capitalization of $25.81 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 0.70 and a beta of 1.49. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24. The firm's fifty day moving average price is $66.57 and its 200-day moving average price is $60.24. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $73.76.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.78. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. The company's revenue was down 1.8% on a year-over-year basis. As a group, research analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Synchrony Financial's dividend payout ratio (DPR) is currently 14.56%.

Analyst Ratings Changes

SYF has been the subject of a number of analyst reports. Truist Financial raised their price objective on Synchrony Financial from $68.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. Redburn Atlantic upgraded Synchrony Financial to a "hold" rating in a research note on Friday, August 1st. Royal Bank Of Canada lifted their price objective on Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group lifted their price objective on Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company lifted their price objective on Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.05.

Synchrony Financial Company 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.