Nuveen Asset Management LLC Buys 1,480,702 Shares of Synchrony Financial (NYSE:SYF)

Nuveen Asset Management LLC lifted its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 169.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,356,862 shares of the financial services provider's stock after acquiring an additional 1,480,702 shares during the period. Nuveen Asset Management LLC owned approximately 0.61% of Synchrony Financial worth $153,196,000 as of its most recent filing with the Securities & Exchange Commission.

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

Synchrony Financial Trading Down 1.9%

Shares of SYF traded down $1.15 during midday trading on Wednesday, hitting $58.69. The stock had a trading volume of 797,439 shares, compared to its average volume of 3,922,992. The stock's 50 day moving average is $52.39 and its 200 day moving average is $60.44. The firm has a market cap of $22.34 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping 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 firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. As a group, 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. Stockholders of record on Monday, May 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.04%. Synchrony Financial's dividend payout ratio is presently 16.46%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a research note on Friday, April 25th. Morgan Stanley reaffirmed an "equal weight" rating and set a $44.00 price objective (down from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their price target on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Finally, Evercore ISI lowered their target price 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. Eight equities research 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.95.

Insider Buying and Selling

In other Synchrony Financial 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 transaction, the insider now directly owns 146,628 shares in the company, valued at $8,807,943.96. This represents a 21.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by 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.