Convergence Investment Partners LLC Grows Stock Holdings in Synchrony Financial (NYSE:SYF)

Convergence Investment Partners LLC lifted its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 255.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 27,989 shares of the financial services provider's stock after buying an additional 20,110 shares during the quarter. Convergence Investment Partners LLC's holdings in Synchrony Financial were worth $1,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA grew its holdings in Synchrony Financial by 13.4% in the 4th quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider's stock valued at $104,000 after buying an additional 320 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Synchrony Financial by 3.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,886 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 371 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of Synchrony Financial by 44.1% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider's stock worth $49,000 after purchasing an additional 390 shares in the last quarter. Advisor Partners II LLC grew its position in shares of Synchrony Financial by 3.3% during the 3rd quarter. Advisor Partners II LLC now owns 15,864 shares of the financial services provider's stock worth $485,000 after purchasing an additional 507 shares in the last quarter. Finally, DGS Capital Management LLC increased its holdings in shares of Synchrony Financial by 3.3% during the fourth quarter. DGS Capital Management LLC now owns 16,368 shares of the financial services provider's stock worth $625,000 after purchasing an additional 516 shares during the period. Institutional investors own 96.48% of the company's stock.

Insiders Place Their Bets

In related news, insider Curtis Howse sold 6,179 shares of the business's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now owns 152,604 shares of the company's stock, valued at $6,534,503.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Brian D. Doubles sold 134,696 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now directly owns 660,353 shares in the company, valued at $27,246,164.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis Howse sold 6,179 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now owns 152,604 shares of the company's stock, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. Insiders have sold 148,158 shares of company stock valued at $6,106,106 in the last ninety days. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Oppenheimer reiterated a "market perform" rating on shares of Synchrony Financial in a research note on Wednesday, March 6th. Evercore ISI raised their price target on Synchrony Financial from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Morgan Stanley reaffirmed an "underweight" rating and set a $30.00 price objective on shares of Synchrony Financial in a research report on Thursday, February 8th. Barclays raised their target price on shares of Synchrony Financial from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Synchrony Financial from $42.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $42.72.

Synchrony Financial Price Performance

Shares of SYF traded up $0.01 during trading hours on Friday, reaching $44.67. The stock had a trading volume of 3,698,809 shares, compared to its average volume of 4,315,406. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 1.24. Synchrony Financial has a 12 month low of $26.59 and a 12 month high of $45.46. The stock has a market capitalization of $18.17 billion, a PE ratio of 6.41, a PEG ratio of 1.10 and a beta of 1.61. The company's 50-day moving average is $41.67 and its two-hundred day moving average is $36.97.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.19). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter in the prior year, the business posted $1.35 earnings per share. Research analysts expect that Synchrony Financial will post 5.63 EPS for the current year.

Synchrony Financial announced that its board has authorized a stock buyback program on Wednesday, April 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 5.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 2.24%. Synchrony Financial's dividend payout ratio is presently 14.35%.

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.