Synchrony Financial (NYSE:SYF) Position Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,634,476 shares of the financial services provider's stock after purchasing an additional 91,313 shares during the quarter. Victory Capital Management Inc. owned approximately 0.42% of Synchrony Financial worth $86,529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SYF. CVA Family Office LLC grew its holdings in shares of Synchrony Financial by 355.9% during the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after buying an additional 541 shares in the last quarter. Accredited Wealth Management LLC acquired a new stake in Synchrony Financial during the fourth quarter worth approximately $38,000. Rothschild Investment LLC grew its stake in Synchrony Financial by 55.6% in the 1st 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 period. Golden State Wealth Management LLC raised its holdings in Synchrony Financial by 503.7% in the 1st 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 last quarter. Finally, Global Financial Private Client LLC raised its holdings in Synchrony Financial by 1,107.4% in the 1st quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 897 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYF. Cfra Research upgraded Synchrony Financial to a "hold" rating in a report on Tuesday, April 22nd. Wells Fargo & Company raised their price target on Synchrony Financial from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. BTIG Research raised shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Monday. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, JMP Securities raised their target price on shares of Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.53.

Synchrony Financial Stock Down 0.1%

NYSE:SYF traded down $0.10 during mid-day trading on Friday, hitting $70.09. The company had a trading volume of 3,230,906 shares, compared to its average volume of 3,835,885. The business has a fifty day simple moving average of $62.89 and a 200-day simple moving average of $59.82. The firm has a market capitalization of $26.68 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 0.72 and a beta of 1.46. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $71.88. 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 posted its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. Equities analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $0.30 dividend. The ex-dividend date was Monday, May 5th. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 1.71%. Synchrony Financial's dividend payout ratio is 16.46%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the company's stock in a transaction dated 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 directly owned 146,628 shares of the company's stock, valued at $8,807,943.96. This represents a 21.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Curtis Howse sold 11,380 shares of the business's 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 completion of the transaction, the insider owned 108,062 shares in the company, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.32% 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.