7,136 Shares in Synchrony Financial (NYSE:SYF) Purchased by NorthRock Partners LLC

NorthRock Partners LLC bought a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,136 shares of the financial services provider's stock, valued at approximately $464,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bogart Wealth LLC bought a new position in Synchrony Financial in the 4th quarter worth about $26,000. TCTC Holdings LLC bought a new position in Synchrony Financial in the 4th quarter worth about $27,000. Y.D. More Investments Ltd boosted its stake in Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock worth $31,000 after purchasing an additional 253 shares during the period. Accredited Wealth Management LLC bought a new position in Synchrony Financial in the 4th quarter worth about $38,000. Finally, Raleigh Capital Management Inc. boosted its stake in Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock worth $52,000 after purchasing an additional 486 shares during the period. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Trading Down 0.4%

Synchrony Financial stock traded down $0.26 during trading hours on Tuesday, reaching $59.79. The company had a trading volume of 2,803,737 shares, compared to its average volume of 3,932,871. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50-day moving average price of $52.23 and a 200 day moving average price of $60.45. The firm has a market cap of $22.76 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 0.71 and a beta of 1.42. Synchrony Financial has a 12-month low of $40.55 and a 12-month high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.26. The business had revenue of $3.72 billion for 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%. Equities analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, May 5th. This is an increase 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

A number of analysts have recently issued reports on SYF shares. Evercore ISI dropped their price target on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada lifted their price target on Synchrony Financial from $70.00 to $73.00 and gave the company a "sector perform" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group dropped their price target on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price target on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Truist Financial dropped their price target on Synchrony Financial from $65.00 to $57.00 and set a "hold" rating for the company in a research report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $63.95.

Insider Activity at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 40,639 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 146,628 shares in the company, valued at $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is owned by corporate insiders.

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.