MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $9.06 Million Holdings in Synchrony Financial (NYSE:SYF)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 96.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 139,315 shares of the financial services provider's stock after acquiring an additional 68,494 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Synchrony Financial were worth $9,055,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bogart Wealth LLC bought a new position in shares of Synchrony Financial during the fourth quarter worth about $26,000. TCTC Holdings LLC bought a new position in Synchrony Financial during 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 acquiring an additional 253 shares in the last quarter. Accredited Wealth Management LLC bought a new stake in shares of Synchrony Financial in the 4th quarter valued at approximately $38,000. Finally, Raleigh Capital Management Inc. raised its position 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 acquiring an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Price Performance

Synchrony Financial stock traded down $2.52 during mid-day trading on Wednesday, hitting $57.32. The company's stock had a trading volume of 3,662,635 shares, compared to its average volume of 3,934,492. The stock has a market capitalization of $21.82 billion, a P/E ratio of 6.71, a P/E/G ratio of 0.71 and a beta of 1.42. Synchrony Financial has a twelve month low of $40.55 and a twelve month high of $70.93. The stock's fifty day moving average price is $52.39 and its two-hundred day moving average price is $60.44. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

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 analysts' consensus estimates of $1.63 by $0.26. The firm 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%. Research 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. 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 represents a $1.20 dividend on an annualized basis and a dividend yield of 2.09%. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio is presently 16.46%.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of research reports. StockNews.com raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday. Morgan Stanley restated an "equal weight" rating and issued a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their price target on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada raised their target price on Synchrony Financial from $70.00 to $73.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.95.

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.