Wealth Enhancement Advisory Services LLC Trims Stock Position in Synchrony Financial (NYSE:SYF)

Wealth Enhancement Advisory Services LLC reduced its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 62.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,947 shares of the financial services provider's stock after selling 40,198 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Synchrony Financial were worth $1,268,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SYF. TCTC Holdings LLC purchased a new stake in shares of Synchrony Financial during the 4th quarter valued at $27,000. Accredited Wealth Management LLC acquired a new position in Synchrony Financial during the 4th quarter valued at about $38,000. CVA Family Office LLC raised its stake in Synchrony Financial by 355.9% in 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. EverSource Wealth Advisors LLC raised its stake in Synchrony Financial by 46.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock valued at $53,000 after buying an additional 257 shares during the last quarter. Finally, Rothschild Investment LLC boosted its holdings in Synchrony Financial by 55.6% in the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock worth $46,000 after acquiring an additional 308 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Price Performance

NYSE:SYF traded up $0.78 during trading hours on Friday, hitting $70.25. 2,265,856 shares of the stock were exchanged, compared to its average volume of 3,875,644. The firm's fifty day moving average price is $59.52 and its 200 day moving average price is $59.52. Synchrony Financial has a 52-week low of $40.55 and a 52-week high of $70.93. The company has a market cap of $26.74 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.72 and a beta of 1.46. 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 issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.63 by $0.26. The firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. As a group, equities research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $0.30 dividend. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Monday, May 5th. Synchrony Financial's dividend payout ratio (DPR) is currently 16.46%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Morgan Stanley reiterated 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. Evercore ISI cut their target price on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Truist Financial lifted their price target on Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a research report on Friday, June 13th. Finally, The Goldman Sachs Group increased their price objective on Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $65.78.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 11,380 shares of the 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 completion of the sale, the insider owned 108,062 shares of the company's stock, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

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.