Sound Income Strategies LLC Has $992,000 Stake in Synchrony Financial (NYSE:SYF)

Sound Income Strategies LLC boosted its holdings in shares of Synchrony Financial (NYSE:SYF – Get Rating) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,201 shares of the financial services provider’s stock after purchasing an additional 1,234 shares during the period. Sound Income Strategies LLC’s holdings in Synchrony Financial were worth $992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its holdings in Synchrony Financial by 231.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 948 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 662 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Synchrony Financial during the 2nd quarter valued at $28,000. Cowa LLC acquired a new stake in Synchrony Financial during the 3rd quarter valued at $28,000. Covestor Ltd boosted its position in Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after buying an additional 644 shares during the last quarter. Finally, Ronald Blue Trust Inc. boosted its position in Synchrony Financial by 157.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,210 shares of the financial services provider’s stock valued at $33,000 after buying an additional 740 shares during the last quarter. 95.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Synchrony Financial news, insider Bart Schaller sold 11,071 shares of Synchrony Financial stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $36.25, for a total value of $401,323.75. Following the sale, the insider now owns 71,664 shares of the company’s stock, valued at approximately $2,597,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synchrony Financial news, insider Alberto Casellas sold 39,460 shares of Synchrony Financial stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $36.14, for a total value of $1,426,084.40. Following the sale, the insider now owns 70,040 shares of the company’s stock, valued at approximately $2,531,245.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bart Schaller sold 11,071 shares of Synchrony Financial stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $36.25, for a total value of $401,323.75. Following the completion of the sale, the insider now directly owns 71,664 shares in the company, valued at approximately $2,597,820. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SYF shares. Morgan Stanley increased their price objective on Synchrony Financial from $29.00 to $31.00 and gave the company an “underweight” rating in a research report on Tuesday, January 24th. BMO Capital Markets decreased their price objective on Synchrony Financial from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 24th. StockNews.com started coverage on Synchrony Financial in a research report on Thursday. They issued a “hold” rating on the stock. Citigroup increased their price objective on Synchrony Financial from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, January 24th. Finally, UBS Group initiated coverage on Synchrony Financial in a research report on Monday, November 21st. They issued a “neutral” rating and a $42.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Synchrony Financial currently has an average rating of “Hold” and a consensus target price of $38.13.

Synchrony Financial Trading Down 2.3 %

Synchrony Financial stock traded down $0.67 during mid-day trading on Friday, hitting $28.49. 11,365,258 shares of the company’s stock were exchanged, compared to its average volume of 5,999,842. The firm has a market capitalization of $12.45 billion, a P/E ratio of 4.67, a PEG ratio of 1.47 and a beta of 1.62. Synchrony Financial has a fifty-two week low of $27.22 and a fifty-two week high of $41.88. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.17. The company’s 50 day simple moving average is $34.70 and its 200-day simple moving average is $33.86.

Synchrony Financial (NYSE:SYF – Get Rating) last issued its quarterly earnings data on Monday, January 23rd. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.12 by $0.14. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.04 billion. Synchrony Financial had a return on equity of 24.07% and a net margin of 17.51%. During the same quarter last year, the business posted $1.48 EPS. On average, equities analysts anticipate that Synchrony Financial will post 5.07 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Investors of record on Monday, February 6th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.23%. The ex-dividend date was Friday, February 3rd. Synchrony Financial’s payout ratio is presently 15.08%.

About Synchrony Financial

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Synchrony Financial engages in the provision of consumer financial services. The firm is also involved in managing credit products through the following sales platforms: Home and Auto, Digital, Diversified and Value, Health and Wellness, and Lifestyle. The company was founded on September 12, 2003 and is headquartered in Stamford, CT.