Synchrony Financial (NYSE:SYF) Holdings Trimmed by Brighton Jones LLC

Brighton Jones LLC reduced its position in shares of Synchrony Financial (NYSE:SYF) by 2.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,172 shares of the financial services provider’s stock after selling 377 shares during the period. Brighton Jones LLC’s holdings in Synchrony Financial were worth $618,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new stake in Synchrony Financial in the 3rd quarter worth about $35,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Synchrony Financial by 44.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 390 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Synchrony Financial in the fourth quarter worth approximately $55,000. Systematic Alpha Investments LLC purchased a new stake in shares of Synchrony Financial in the third quarter worth approximately $100,000. Finally, Private Trust Co. NA boosted its holdings in shares of Synchrony Financial by 13.4% during the fourth quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 320 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 6,179 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now owns 152,604 shares in the company, valued at $6,534,503.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 6,179 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the transaction, the insider now directly owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

Synchrony Financial Stock Down 0.0 %

Shares of SYF stock opened at $43.96 on Thursday. Synchrony Financial has a 12 month low of $26.59 and a 12 month high of $45.46. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The firm has a market cap of $17.65 billion, a PE ratio of 6.31, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. The stock has a 50 day moving average of $41.93 and a 200-day moving average of $37.23.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same quarter in the previous year, the business posted $1.35 EPS. On average, equities analysts predict that Synchrony Financial will post 5.62 EPS for the current year.

Synchrony Financial announced that its board has authorized a stock repurchase plan on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be paid a $0.25 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. Synchrony Financial’s payout ratio is 14.35%.

Analysts Set New Price Targets

Several research analysts have weighed in on SYF shares. Piper Sandler upped their price objective on shares of Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods raised Synchrony Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $45.00 to $62.00 in a research report on Thursday. Bank of America boosted their target price on Synchrony Financial from $43.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Stephens raised their price target on Synchrony Financial from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Finally, TD Cowen lifted their price target on Synchrony Financial from $49.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $43.74.

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.