Synchrony Financial (NYSE:SYF) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,246 shares of the financial services provider's stock after selling 7,035 shares during the quarter. D.A. Davidson & CO.'s holdings in Synchrony Financial were worth $3,772,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. TCTC Holdings LLC purchased a new stake in shares of Synchrony Financial during the fourth quarter valued at $27,000. 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 valued at $37,000 after buying an additional 541 shares during the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of Synchrony Financial during the fourth quarter valued at $38,000. Rothschild Investment LLC raised its holdings in shares of Synchrony Financial by 55.6% during the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock worth $46,000 after purchasing an additional 308 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Synchrony Financial by 503.7% during the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock worth $51,000 after purchasing an additional 811 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYF has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of Synchrony Financial from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Truist Financial lifted their target price on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, June 13th. 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 boosted their target price on shares of Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Evercore ISI decreased their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Synchrony Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.78.

Synchrony Financial Trading Up 1.1%

Shares of Synchrony Financial stock traded up $0.78 during mid-day trading on Friday, hitting $70.25. 2,265,856 shares of the stock were exchanged, compared to its average volume of 3,873,087. Synchrony Financial has a twelve month low of $40.55 and a twelve month high of $70.93. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46. The company has a 50-day simple moving average of $59.89 and a 200 day simple moving average of $59.52. 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 released 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. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Research analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The firm also recently disclosed 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. This represents a $1.20 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, May 5th. Synchrony Financial's payout ratio is currently 16.46%.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction 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 completion of the sale, the insider owned 108,062 shares in the company, valued at $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. 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 the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the sale, the insider owned 146,628 shares of the company's stock, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

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.