Wealthfront Advisers LLC Purchases 19,014 Shares of Synchrony Financial (NYSE:SYF)

Wealthfront Advisers LLC grew its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 21.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 109,022 shares of the financial services provider's stock after buying an additional 19,014 shares during the quarter. Wealthfront Advisers LLC's holdings in Synchrony Financial were worth $5,772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Covestor Ltd grew its stake in shares of Synchrony Financial by 6.0% during the fourth quarter. Covestor Ltd now owns 3,085 shares of the financial services provider's stock worth $200,000 after buying an additional 174 shares during the last quarter. Gotham Asset Management LLC grew its stake in shares of Synchrony Financial by 2.0% in the fourth quarter. Gotham Asset Management LLC now owns 11,505 shares of the financial services provider's stock worth $748,000 after purchasing an additional 226 shares during the last quarter. Invst LLC grew its stake in shares of Synchrony Financial by 1.2% in the fourth quarter. Invst LLC now owns 20,560 shares of the financial services provider's stock worth $1,336,000 after purchasing an additional 239 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Synchrony Financial by 46.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock worth $53,000 after purchasing an additional 257 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Synchrony Financial by 0.3% in the fourth quarter. MetLife Investment Management LLC now owns 103,038 shares of the financial services provider's stock worth $6,697,000 after purchasing an additional 283 shares during the last quarter. Institutional investors own 96.48% of the company's stock.

Insider Transactions at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 40,639 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the sale, the insider owned 146,628 shares in the company, valued at $8,807,943.96. This represents a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Curtis Howse sold 11,380 shares of the company's stock in a transaction dated 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 sale, the insider owned 108,062 shares in the company, valued at $7,024,030. This represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company's stock.

Synchrony Financial Stock Up 1.4%

Shares of NYSE SYF traded up $0.96 during trading on Thursday, hitting $70.26. 2,353,553 shares of the company traded hands, compared to its average volume of 3,841,807. The business's fifty day moving average is $62.60 and its 200 day moving average is $59.79. Synchrony Financial has a fifty-two week low of $40.55 and a fifty-two week high of $71.88. The firm has a market capitalization of $26.74 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 0.71 and a beta of 1.46. 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 posted its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. Equities research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on SYF shares. JMP Securities boosted their price objective on shares of Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Truist Financial boosted their price objective on shares of Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a research note on Friday, June 13th. Evercore ISI reduced their price objective on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their price target on shares of Synchrony Financial from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $71.53.

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.