IFP Advisors Inc Grows Stock Position in Synchrony Financial (NYSE:SYF)

Key Points

• IFP Advisors Inc significantly increased its stake in Synchrony Financial by 549.4%, owning 5,117 shares valued at $273,000 as of its latest SEC filing.
• Analysts have been optimistic, with multiple brokerages raising their target prices for Synchrony Financial, including JMP Securities and Royal Bank Of Canada, indicating a general consensus of a "Moderate Buy" rating.
• Synchrony Financial recently announced a quarterly dividend of $0.30 per share, yielding approximately 1.65%, with a payout ratio of 14.56%.

IFP Advisors Inc raised its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 549.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,117 shares of the financial services provider's stock after acquiring an additional 4,329 shares during the period. IFP Advisors Inc's holdings in Synchrony Financial were worth $273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CVA Family Office LLC grew its stake in shares of Synchrony Financial by 355.9% during 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 during the period. Accredited Wealth Management LLC bought a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $38,000. Rothschild Investment LLC grew its stake in shares of Synchrony Financial by 55.6% in 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. Golden State Wealth Management LLC grew its stake in shares of Synchrony Financial by 503.7% in the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock worth $51,000 after acquiring an additional 811 shares during the last quarter. Finally, Global Financial Private Client LLC grew its stake in shares of Synchrony Financial by 1,107.4% in the first quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock worth $52,000 after acquiring an additional 897 shares during the last quarter. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Performance

SYF stock traded up $0.06 during trading on Thursday, hitting $70.32. 464,162 shares of the company traded hands, compared to its average volume of 4,123,164. The company has a market cap of $26.16 billion, a PE ratio of 8.51, a P/E/G ratio of 0.71 and a beta of 1.46. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $73.76. The stock's 50-day simple moving average is $64.99 and its 200 day simple moving average is $60.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.78. The business had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.71 billion. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The business's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. On average, equities analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Tuesday, August 5th. Synchrony Financial's dividend payout ratio is presently 14.56%.

Analyst Ratings Changes

SYF has been the topic of several research reports. Cfra Research raised Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group lifted their price objective on Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Truist Financial boosted their price target on Synchrony Financial from $68.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, July 24th. Finally, BTIG Research raised Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Synchrony Financial presently has an average rating of "Moderate Buy" and a consensus target price of $74.17.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total value of $739,700.00. Following the sale, the insider owned 108,062 shares of the company's stock, valued at $7,024,030. This trade represents a 9.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction that occurred 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 directly owned 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company's stock.

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.