Achmea Investment Management B.V. Acquires 296,438 Shares of Synchrony Financial (NYSE:SYF)

Achmea Investment Management B.V. raised its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 251.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 414,320 shares of the financial services provider's stock after buying an additional 296,438 shares during the quarter. Achmea Investment Management B.V. owned 0.11% of Synchrony Financial worth $21,935,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Artemis Investment Management LLP lifted its position in shares of Synchrony Financial by 257.7% during the 1st quarter. Artemis Investment Management LLP now owns 128,290 shares of the financial services provider's stock valued at $6,792,000 after acquiring an additional 92,426 shares during the period. Bartlett & CO. Wealth Management LLC raised its holdings in shares of Synchrony Financial by 49.5% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,072 shares of the financial services provider's stock valued at $480,000 after purchasing an additional 3,002 shares during the period. Board of the Pension Protection Fund acquired a new position in Synchrony Financial during the 1st quarter worth approximately $736,000. Robeco Institutional Asset Management B.V. boosted its holdings in Synchrony Financial by 12.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 2,213,470 shares of the financial services provider's stock worth $117,181,000 after acquiring an additional 241,676 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its stake in 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 valued at $51,000 after acquiring an additional 811 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

Shares of SYF stock traded up $0.61 on Monday, hitting $66.80. 3,548,457 shares of the stock were exchanged, compared to its average volume of 4,260,537. The firm's 50 day moving average is $57.98 and its two-hundred day moving average is $59.39. Synchrony Financial has a one year low of $40.54 and a one year high of $70.93. The firm has a market capitalization of $25.43 billion, a PE ratio of 9.16, a P/E/G ratio of 0.68 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.26. The firm 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%. Sell-side analysts expect 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. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.80%. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio is currently 16.46%.

Insider Transactions at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 40,639 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were 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 in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis Howse sold 11,380 shares of the business's 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 now directly owns 108,062 shares of the company's stock, valued at approximately $7,024,030. This represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Truist Financial upped their target price on shares of Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a report on Friday, June 13th. Wells Fargo & Company dropped their target price on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group decreased their price target on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.78.

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.