Envestnet Portfolio Solutions Inc. Has $645,000 Stake in Synchrony Financial (NYSE:SYF)

Envestnet Portfolio Solutions Inc. trimmed its stake in Synchrony Financial (NYSE:SYF) by 32.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,187 shares of the financial services provider’s stock after selling 5,740 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Synchrony Financial were worth $645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYF. Norges Bank bought a new position in shares of Synchrony Financial during the 4th quarter worth about $347,903,000. Sachem Head Capital Management LP acquired a new position in Synchrony Financial in the fourth quarter valued at about $142,838,000. Price T Rowe Associates Inc. MD boosted its position in Synchrony Financial by 340.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider’s stock valued at $163,303,000 after buying an additional 1,942,573 shares in the last quarter. Azora Capital LP boosted its position in Synchrony Financial by 700.5% in the fourth quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider’s stock valued at $137,010,000 after buying an additional 1,844,509 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Synchrony Financial by 169.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,356,862 shares of the financial services provider’s stock valued at $153,196,000 after buying an additional 1,480,702 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Synchrony Financial

In related news, insider Curtis Howse sold 11,380 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the sale, the insider now directly owns 108,062 shares of the company’s stock, valued at approximately $7,024,030. This represents a 9.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Mothner sold 40,639 shares of the firm’s stock in a transaction on 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 directly owns 146,628 shares of the company’s stock, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of research reports. The Goldman Sachs Group reduced their target price on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Morgan Stanley reissued an “equal weight” rating and set a $44.00 price target (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Cfra Research raised shares of Synchrony Financial to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their price target on shares of Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.78.

Synchrony Financial Stock Up 1.5%

Shares of Synchrony Financial stock opened at $65.87 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11. The company’s fifty day simple moving average is $57.61 and its two-hundred day simple moving average is $59.52. The company has a market cap of $25.07 billion, a P/E ratio of 9.04, a PEG ratio of 0.67 and a beta of 1.44. Synchrony Financial has a 12-month low of $40.55 and a 12-month high of $70.93.

Synchrony Financial (NYSE:SYF) last released its 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 the consensus estimate of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. Research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.20 annualized dividend and a yield of 1.82%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.25. Synchrony Financial’s dividend payout ratio is currently 16.46%.

Synchrony Financial 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.