Point72 Hong Kong Ltd Takes $6.63 Million Position in Synchrony Financial (NYSE:SYF)

Point72 Hong Kong Ltd bought a new stake in shares of Synchrony Financial (NYSE:SYF - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 101,969 shares of the financial services provider's stock, valued at approximately $6,628,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bogart Wealth LLC bought a new stake in Synchrony Financial during the 4th quarter valued at $26,000. TCTC Holdings LLC purchased a new position in shares of Synchrony Financial in the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd grew its position in shares of 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 buying an additional 253 shares during the last quarter. Accredited Wealth Management LLC purchased a new position in Synchrony Financial during the 4th quarter worth $38,000. Finally, Raleigh Capital Management Inc. grew its stake in Synchrony Financial by 151.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock worth $52,000 after buying an additional 486 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Insider Activity at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction on 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 trade represents a 21.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.32% of the company's stock.

Synchrony Financial Stock Down 0.1%

Shares of NYSE:SYF traded down $0.08 on Tuesday, hitting $59.97. 1,070,170 shares of the company's stock were exchanged, compared to its average volume of 3,926,150. The firm's 50-day moving average is $52.23 and its 200 day moving average is $60.45. The company has a market capitalization of $22.83 billion, a PE ratio of 7.02, a P/E/G ratio of 0.71 and a beta of 1.42. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Sell-side analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given 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 2.00%. Synchrony Financial's dividend payout ratio is 16.46%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Compass Point downgraded Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 target price on the stock. in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their target price on Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Wednesday, January 29th. Bank of America boosted their price target on Synchrony Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com downgraded Synchrony Financial from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.95.

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.