Prime Capital Investment Advisors LLC Purchases Shares of 5,546 Synchrony Financial (NYSE:SYF)

Prime Capital Investment Advisors LLC purchased a new stake in Synchrony Financial (NYSE:SYF) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,546 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Trust Advisors LP grew its holdings in shares of Synchrony Financial by 853.5% during the 1st quarter. First Trust Advisors LP now owns 6,218,641 shares of the financial services provider’s stock worth $216,471,000 after purchasing an additional 5,566,481 shares during the period. Norges Bank purchased a new stake in shares of Synchrony Financial during the 4th quarter worth about $151,220,000. Boston Partners grew its holdings in shares of Synchrony Financial by 158.9% during the 3rd quarter. Boston Partners now owns 3,095,762 shares of the financial services provider’s stock worth $94,609,000 after purchasing an additional 1,900,216 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Synchrony Financial during the 1st quarter worth about $61,172,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Synchrony Financial by 331.0% during the 1st quarter. Ameriprise Financial Inc. now owns 1,894,499 shares of the financial services provider’s stock worth $55,092,000 after purchasing an additional 1,454,927 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Down 2.1 %

Shares of Synchrony Financial stock opened at $40.41 on Monday. The stock has a 50-day moving average price of $41.04 and a 200 day moving average price of $36.08. The company has a market cap of $16.44 billion, a P/E ratio of 7.80, a P/E/G ratio of 1.01 and a beta of 1.61. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. Synchrony Financial has a 1 year low of $26.59 and a 1 year high of $43.83.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same period in the prior year, the business earned $1.26 EPS. As a group, analysts expect that Synchrony Financial will post 5.54 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Friday, February 2nd. Synchrony Financial’s payout ratio is currently 19.31%.

Analyst Ratings Changes

SYF has been the subject of a number of research reports. JMP Securities boosted their target price on Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a report on Friday, January 12th. Wolfe Research upgraded Synchrony Financial from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $36.00 to $50.00 in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft started coverage on Synchrony Financial in a report on Wednesday, January 10th. They issued a “buy” rating and a $56.00 price target for the company. Barclays upped their price target on Synchrony Financial from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their price target on Synchrony Financial from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.44.

Insiders Place Their Bets

In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the transaction, the insider now directly owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the transaction, the insider now directly owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the transaction, the insider now directly owns 152,604 shares in the company, valued at $6,534,503.28. The disclosure for this sale can be found here. Insiders have sold a total of 148,158 shares of company stock valued at $6,106,106 in the last three months. Insiders own 0.65% of the company’s stock.

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.