Synchrony Financial (NYSE:SYF) Stock Holdings Trimmed by Farther Finance Advisors LLC

Farther Finance Advisors LLC lowered its holdings in shares of Synchrony Financial (NYSE:SYF) by 82.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,385 shares of the financial services provider’s stock after selling 11,166 shares during the period. Farther Finance Advisors LLC’s holdings in Synchrony Financial were worth $127,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SYF. Principal Securities Inc. increased its position in shares of Synchrony Financial by 15.6% during the 4th quarter. Principal Securities Inc. now owns 4,868 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 657 shares during the period. Truist Financial Corp increased its position in shares of Synchrony Financial by 10.4% during the 4th quarter. Truist Financial Corp now owns 19,353 shares of the financial services provider’s stock valued at $1,258,000 after purchasing an additional 1,817 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Synchrony Financial by 204.8% in the 4th quarter. Venturi Wealth Management LLC now owns 5,065 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 3,403 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Synchrony Financial in the 4th quarter worth $208,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Synchrony Financial by 205.3% in the 4th quarter. Handelsbanken Fonder AB now owns 212,052 shares of the financial services provider’s stock worth $13,783,000 after acquiring an additional 142,587 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SYF shares. Wells Fargo & Company decreased their target price on Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Cfra Research raised Synchrony Financial to a “hold” rating in a research report on Tuesday, April 22nd. Evercore ISI decreased their target price on Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group decreased their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.78.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the transaction, the insider now owns 146,628 shares of the company’s stock, valued at $8,807,943.96. This represents a 21.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

Synchrony Financial Stock Up 1.4%

SYF opened at $62.34 on Friday. The company has a market cap of $23.73 billion, a P/E ratio of 8.55, a P/E/G ratio of 0.64 and a beta of 1.44. The business’s 50-day moving average price is $56.21 and its 200-day moving average price is $59.60. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. On average, equities analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.93%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial’s dividend payout ratio is 16.46%.

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.