Synchrony Financial (NYSE:SYF) Shares Sold by Jag Capital Management LLC

Jag Capital Management LLC cut its stake in Synchrony Financial (NYSE:SYF - Free Report) by 6.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,547 shares of the financial services provider's stock after selling 3,947 shares during the period. Jag Capital Management LLC's holdings in Synchrony Financial were worth $3,258,000 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 SYF. Truist Financial Corp boosted its holdings in Synchrony Financial by 10.4% in the fourth quarter. Truist Financial Corp now owns 19,353 shares of the financial services provider's stock valued at $1,258,000 after purchasing an additional 1,817 shares during the period. Atria Wealth Solutions Inc. purchased a new position in Synchrony Financial in the fourth quarter valued at $208,000. Mn Services Vermogensbeheer B.V. boosted its holdings in Synchrony Financial by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 161,300 shares of the financial services provider's stock valued at $10,484,000 after purchasing an additional 2,700 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Synchrony Financial by 22.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 21,203 shares of the financial services provider's stock worth $1,378,000 after buying an additional 3,824 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Synchrony Financial during the 4th quarter worth about $10,530,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Stock Up 0.6%

SYF opened at $66.20 on Friday. The business has a 50 day moving average price of $57.98 and a two-hundred day moving average price of $59.52. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.11. The company has a market cap of $25.20 billion, a PE ratio of 9.08, a P/E/G ratio of 0.68 and a beta of 1.44. Synchrony Financial has a 52 week low of $40.55 and a 52 week high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. As a group, research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The business 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. 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 yield of 1.81%. Synchrony Financial's dividend payout ratio is currently 16.46%.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the transaction, the insider now owns 146,628 shares in the company, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $65.00, for a total value of $739,700.00. Following the transaction, the insider now owns 108,062 shares in the company, valued at $7,024,030. The trade was a 9.53% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Cfra Research raised Synchrony Financial to a "hold" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price target on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Wells Fargo & Company decreased their price target on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company 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 equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.78.

Synchrony Financial 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.

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