Synchrony Financial (NYSE:SYF) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers grew its stake in shares of Synchrony Financial (NYSE:SYF) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,082 shares of the financial services provider’s stock after purchasing an additional 1,644 shares during the quarter. Cetera Investment Advisers’ holdings in Synchrony Financial were worth $3,075,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Accredited Wealth Management LLC acquired a new position in shares of Synchrony Financial in the fourth quarter worth about $38,000. CVA Family Office LLC lifted its stake in shares of Synchrony Financial by 355.9% in the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 541 shares in the last quarter. Rothschild Investment LLC lifted its stake 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 worth $46,000 after acquiring an additional 308 shares in the last quarter. Golden State Wealth Management LLC lifted its stake 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 worth $51,000 after acquiring an additional 811 shares in the last quarter. Finally, Global Financial Private Client LLC lifted its stake in shares of Synchrony Financial by 1,107.4% in the first quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 897 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the sale, the insider directly owned 108,062 shares in the company, valued at $7,024,030. This trade represents a 9.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Darrell Owens sold 600 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the sale, the insider owned 21,372 shares of the company’s stock, valued at $1,452,227.40. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,133 shares of company stock valued at $3,817,635. 0.33% of the stock is currently owned by insiders.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $69.95 on Wednesday. The firm has a market cap of $26.03 billion, a PE ratio of 8.49, a PEG ratio of 0.69 and a beta of 1.49. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $73.76. The company has a fifty day moving average price of $65.91 and a 200 day moving average price of $60.17.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.78. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. Research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 5th. This represents a $1.20 annualized dividend and a yield of 1.7%. Synchrony Financial’s dividend payout ratio (DPR) is 14.56%.

Analyst Ratings Changes

SYF has been the subject of several research analyst reports. Truist Financial boosted their price objective on Synchrony Financial from $68.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, July 24th. Royal Bank Of Canada boosted their price objective on Synchrony Financial from $75.00 to $78.00 and gave the company a “sector perform” rating in a report on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on Synchrony Financial from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Redburn Atlantic raised Synchrony Financial to a “hold” rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on Synchrony Financial from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.05.

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.