5,851 Shares in Synchrony Financial (NYSE:SYF) Purchased by Waverly Advisors LLC

Waverly Advisors LLC purchased a new stake in shares of Synchrony Financial (NYSE:SYF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,851 shares of the financial services provider's stock, valued at approximately $380,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Synchrony Financial during the 4th quarter valued at approximately $452,000. Asset Management One Co. Ltd. raised its position in shares of Synchrony Financial by 7.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider's stock valued at $11,787,000 after acquiring an additional 12,492 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Synchrony Financial during the 4th quarter valued at approximately $57,000. Summit Trail Advisors LLC bought a new position in Synchrony Financial during the 4th quarter worth $423,000. Finally, NEOS Investment Management LLC grew its stake in Synchrony Financial by 31.4% during the 4th quarter. NEOS Investment Management LLC now owns 25,622 shares of the financial services provider's stock worth $1,665,000 after buying an additional 6,120 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYF. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Evercore ISI lowered their price objective on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Truist Financial lowered their price objective on Synchrony Financial from $65.00 to $57.00 and set a "hold" rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group lowered their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Finally, Morgan Stanley restated an "equal weight" rating and set a $44.00 price objective (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.95.

Synchrony Financial Price Performance

SYF stock traded down $0.79 during trading hours on Friday, hitting $57.46. 451,277 shares of the stock traded hands, compared to its average volume of 3,899,080. The stock has a 50-day simple moving average of $52.90 and a 200 day simple moving average of $60.24. Synchrony Financial has a one year low of $40.55 and a one year high of $70.93. The company has a market cap of $21.87 billion, a P/E ratio of 6.73, a P/E/G ratio of 0.71 and a beta of 1.42. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced 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. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. The business had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.80 billion. Equities analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.09%. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial's dividend payout ratio is currently 16.46%.

Insider Activity

In other news, insider Jonathan S. Mothner sold 40,639 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 146,628 shares of the company's stock, valued at $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

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.