Simplicity Solutions LLC Increases Stock Position in Synchrony Financial (NYSE:SYF)

Simplicity Solutions LLC grew its holdings in Synchrony Financial (NYSE:SYF) by 67.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,468 shares of the financial services provider’s stock after buying an additional 5,432 shares during the period. Simplicity Solutions LLC’s holdings in Synchrony Financial were worth $514,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Live Oak Investment Partners purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at about $27,000. Covestor Ltd raised its holdings in shares of Synchrony Financial by 138.8% in the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after buying an additional 644 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Synchrony Financial in the third quarter valued at about $35,000. Zions Bancorporation N.A. raised its holdings in shares of Synchrony Financial by 230.5% in the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after buying an additional 855 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Synchrony Financial by 44.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after buying an additional 390 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Trading Up 2.8 %

Shares of SYF opened at $40.80 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. The firm’s 50-day moving average is $41.16 and its two-hundred day moving average is $36.27. Synchrony Financial has a twelve month low of $26.59 and a twelve month high of $43.83. The firm has a market capitalization of $16.60 billion, a P/E ratio of 7.88, a PEG ratio of 0.99 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the prior year, the business posted $1.26 earnings per share. On average, research analysts predict that Synchrony Financial will post 5.54 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. Synchrony Financial’s dividend payout ratio is presently 19.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their target price on shares of Synchrony Financial from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. JMP Securities boosted their price target on shares of Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Friday, January 12th. Stephens boosted their price target on shares of Synchrony Financial from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Piper Sandler boosted their price target on shares of Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Wolfe Research upgraded shares of Synchrony Financial from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $36.00 to $50.00 in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Synchrony Financial presently has an average rating of “Hold” and a consensus target price of $41.44.

Insider Activity

In other news, insider David P. Melito sold 7,283 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David P. Melito sold 7,283 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the sale, the insider now owns 14,183 shares in the company, valued at $552,995.17. The disclosure for this sale can be found here. Insiders have sold 148,158 shares of company stock worth $6,106,106 over the last ninety days. 0.65% 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.