Wright Investors Service Inc. Sells 5,260 Shares of Synchrony Financial (NYSE:SYF)

Wright Investors Service Inc. trimmed its position in Synchrony Financial (NYSE:SYF - Free Report) by 12.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,926 shares of the financial services provider's stock after selling 5,260 shares during the quarter. Wright Investors Service Inc.'s holdings in Synchrony Financial were worth $2,008,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Synchrony Financial in the 4th quarter worth approximately $347,903,000. Sachem Head Capital Management LP acquired a new position in shares of Synchrony Financial in the 4th quarter worth approximately $142,838,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Synchrony Financial by 340.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider's stock worth $163,303,000 after acquiring an additional 1,942,573 shares during the last quarter. Azora Capital LP lifted its holdings in shares of Synchrony Financial by 700.5% in the 4th quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider's stock worth $137,010,000 after acquiring an additional 1,844,509 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Synchrony Financial by 169.0% in the 4th quarter. Nuveen Asset Management LLC now owns 2,356,862 shares of the financial services provider's stock worth $153,196,000 after acquiring an additional 1,480,702 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction that occurred 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 transaction, the insider now directly owns 146,628 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock traded up $0.06 during trading on Thursday, hitting $57.93. 1,066,425 shares of the company's stock traded hands, compared to its average volume of 3,899,142. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The firm's fifty day moving average price is $53.20 and its 200 day moving average price is $60.05. Synchrony Financial has a twelve month low of $40.55 and a twelve month high of $70.93. The company has a market cap of $22.05 billion, a PE ratio of 6.78, a PEG ratio of 0.71 and a beta of 1.42.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.26. The business had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.30 per share. The ex-dividend date was Monday, May 5th. This represents a $1.20 annualized dividend and a yield of 2.07%. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio is presently 16.46%.

Analyst Ratings Changes

SYF has been the topic of several recent research reports. Wall Street Zen raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group cut their target price on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Truist Financial cut their target price on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a research note on Friday, April 25th. Morgan Stanley reaffirmed an "equal weight" rating and set a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Finally, Wells Fargo & Company cut their target price on shares of Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $63.95.

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.