Allspring Global Investments Holdings LLC Has $3.90 Million Stock Holdings in Synchrony Financial (NYSE:SYF)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 30.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,136 shares of the financial services provider’s stock after buying an additional 17,061 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Synchrony Financial were worth $3,895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at about $27,000. CVA Family Office LLC boosted its position in Synchrony Financial by 355.9% during the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 541 shares during the period. Accredited Wealth Management LLC bought a new position in Synchrony Financial during the fourth quarter worth about $38,000. Rothschild Investment LLC boosted its position in shares of Synchrony Financial by 55.6% in the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 308 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in shares of Synchrony Financial by 503.7% in the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 811 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 11,380 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the transaction, the insider owned 108,062 shares in the company, valued at $7,024,030. This represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 40,639 shares of the company’s 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 transaction, the insider owned 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Up 1.1%

Shares of SYF opened at $70.25 on Monday. Synchrony Financial has a 12-month low of $40.55 and a 12-month high of $70.93. The firm has a fifty day moving average price of $59.89 and a 200-day moving average price of $59.48. The firm has a market capitalization of $26.74 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.73 and a beta of 1.46. 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 (NYSE:SYF) last released its quarterly earnings data 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 company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. Equities research analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a $0.30 dividend. The ex-dividend date was Monday, May 5th. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 1.71%. Synchrony Financial’s payout ratio is currently 16.46%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. 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 report on Tuesday, April 22nd. Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Evercore ISI cut their price objective on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.78.

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.