Synchrony Financial (NYSE:SYF) Shares Sold by SVB Wealth LLC

SVB Wealth LLC decreased its holdings in shares of Synchrony Financial (NYSE:SYF) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,948 shares of the financial services provider’s stock after selling 647 shares during the quarter. SVB Wealth LLC’s holdings in Synchrony Financial were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Live Oak Investment Partners acquired a new position in shares of Synchrony Financial during the 4th quarter valued at $27,000. Covestor Ltd lifted its holdings in shares of Synchrony Financial by 138.8% during the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 644 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Synchrony Financial during the 3rd quarter valued at $35,000. Zions Bancorporation N.A. lifted its holdings in shares of Synchrony Financial by 230.5% during the 1st quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 855 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings 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 valued at $49,000 after acquiring an additional 390 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were 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 owns 152,604 shares in the company, valued at approximately $6,534,503.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider David P. Melito sold 7,283 shares of the company’s 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 completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. Also, insider Curtis Howse sold 6,179 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the sale, the insider now directly owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,158 shares of company stock worth $6,106,106. Insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SYF. Deutsche Bank Aktiengesellschaft began coverage on shares of Synchrony Financial in a report on Wednesday, January 10th. They set a “buy” rating and a $56.00 target price on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $30.00 price objective on shares of Synchrony Financial in a report on Thursday, February 8th. StockNews.com lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Wednesday. Wolfe Research upgraded shares of Synchrony Financial from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $36.00 to $50.00 in a report on Thursday, April 4th. Finally, Evercore ISI boosted their price objective on shares of Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.44.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $41.57 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. Synchrony Financial has a fifty-two week low of $26.59 and a fifty-two week high of $43.83. The firm has a 50-day simple moving average of $41.22 and a 200 day simple moving average of $36.40. The company has a market cap of $16.91 billion, a PE ratio of 8.03, a P/E/G ratio of 1.03 and a beta of 1.61.

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

Synchrony Financial Dividend Announcement

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 2.41%. The ex-dividend date was Friday, February 2nd. Synchrony Financial’s dividend payout ratio (DPR) is 19.31%.

About Synchrony Financial

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.