C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys Shares of 372,070 Synchrony Financial (NYSE:SYF)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Synchrony Financial (NYSE:SYF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 372,070 shares of the financial services provider’s stock, valued at approximately $24,185,000. Synchrony Financial comprises 1.1% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ portfolio, making the stock its 17th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Gladstone Institutional Advisory LLC raised its position in shares of Synchrony Financial by 1.9% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 176 shares during the last quarter. TFB Advisors LLC acquired a new position in shares of Synchrony Financial in the fourth quarter worth $237,000. Certuity LLC lifted its position in shares of Synchrony Financial by 3.0% in the fourth quarter. Certuity LLC now owns 31,998 shares of the financial services provider’s stock valued at $2,080,000 after acquiring an additional 938 shares in the last quarter. Sovran Advisors LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter valued at $1,511,000. Finally, Carnegie Lake Advisors LLC purchased a new stake in Synchrony Financial during the 4th quarter worth about $239,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF opened at $63.98 on Thursday. Synchrony Financial has a 52-week low of $38.25 and a 52-week high of $70.93. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The firm has a market cap of $24.91 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 0.72 and a beta of 1.63. The business’s 50 day moving average is $67.10 and its two-hundred day moving average is $58.31.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Analysts forecast that Synchrony Financial will post 7.45 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.56%. Synchrony Financial’s payout ratio is 11.71%.

Analyst Upgrades and Downgrades

Several research firms have commented on SYF. Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Compass Point downgraded Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research report on Tuesday, January 28th. Evercore ISI upped their price objective on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price target on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada upped their price objective on Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.30.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the sale, the insider now owns 127,587 shares in the company, valued at $8,291,879.13. This represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

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.