Tributary Capital Management LLC Trims Position in Synchrony Financial (NYSE:SYF)

Tributary Capital Management LLC decreased its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 51.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,450 shares of the financial services provider's stock after selling 4,700 shares during the period. Tributary Capital Management LLC's holdings in Synchrony Financial were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SYF. Covestor Ltd boosted its position in shares of Synchrony Financial by 6.0% in the fourth quarter. Covestor Ltd now owns 3,085 shares of the financial services provider's stock worth $200,000 after purchasing an additional 174 shares during the period. Gotham Asset Management LLC lifted its stake in shares of Synchrony Financial by 2.0% during the 4th quarter. Gotham Asset Management LLC now owns 11,505 shares of the financial services provider's stock valued at $748,000 after buying an additional 226 shares in the last quarter. Invst LLC boosted its holdings in Synchrony Financial by 1.2% in the 4th quarter. Invst LLC now owns 20,560 shares of the financial services provider's stock worth $1,336,000 after buying an additional 239 shares during the period. EverSource Wealth Advisors LLC increased its stake in Synchrony Financial by 46.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock worth $53,000 after buying an additional 257 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Synchrony Financial by 0.3% during the fourth quarter. MetLife Investment Management LLC now owns 103,038 shares of the financial services provider's stock valued at $6,697,000 after acquiring an additional 283 shares during the period. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Synchrony Financial news, 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 transaction of $739,700.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the sale, the insider owned 146,628 shares in the company, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYF. Wells Fargo & Company upped their price objective on Synchrony Financial from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Truist Financial increased their price objective on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a report on Friday, June 13th. BTIG Research upgraded shares of Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Monday. Finally, The Goldman Sachs Group upped their target price on shares of Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $71.53.

Synchrony Financial Trading Down 0.1%

SYF stock traded down $0.10 during midday trading on Friday, reaching $70.09. 3,230,906 shares of the company traded hands, compared to its average volume of 3,835,885. The firm has a market capitalization of $26.68 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 0.72 and a beta of 1.46. Synchrony Financial has a 52-week low of $40.55 and a 52-week high of $71.88. The business has a 50 day moving average of $62.89 and a 200-day moving average of $59.82. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25.

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 for the quarter, beating the consensus estimate of $1.63 by $0.26. The firm had revenue of $3.72 billion for 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, sell-side analysts expect 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 represents a $1.20 annualized dividend and a dividend yield of 1.71%. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio is currently 16.46%.

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.