Wedge Capital Management L L P NC Increases Stock Holdings in Synchrony Financial (NYSE:SYF)

Wedge Capital Management L L P NC grew its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 663,106 shares of the financial services provider's stock after purchasing an additional 68,797 shares during the period. Wedge Capital Management L L P NC owned about 0.17% of Synchrony Financial worth $35,105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bogart Wealth LLC purchased a new stake in Synchrony Financial in the fourth quarter worth about $26,000. TCTC Holdings LLC purchased a new stake in shares of Synchrony Financial in the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $38,000. EverSource Wealth Advisors LLC increased its holdings in Synchrony Financial by 46.5% during 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 period. Finally, Rothschild Investment LLC raised its stake 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 buying an additional 308 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jonathan S. Mothner sold 40,639 shares of the 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 completion of the sale, the insider now owns 146,628 shares of the company's stock, valued at approximately $8,807,943.96. This represents a 21.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

Synchrony Financial Trading Up 2.9%

Shares of Synchrony Financial stock traded up $1.72 during trading hours on Monday, reaching $60.94. 6,220,262 shares of the company's stock were exchanged, compared to its average volume of 3,915,036. The firm has a market capitalization of $23.19 billion, a price-to-earnings ratio of 7.14, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The company has a fifty day moving average of $53.42 and a 200-day moving average of $59.90. Synchrony Financial has a 52-week low of $40.55 and a 52-week high of $70.93. 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 posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. The company 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 18.30% and a net margin of 15.36%. Sell-side analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal 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. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 5th. This represents a $1.20 annualized dividend and a yield of 1.97%. Synchrony Financial's dividend payout ratio is 16.46%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Truist Financial decreased their price objective on Synchrony Financial from $65.00 to $57.00 and set a "hold" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Evercore ISI dropped their price objective on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Cfra Research raised Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.17.

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.