Synchrony Financial (NYSE:SYF) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Synchrony Financial (NYSE:SYF) by 5.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,634,476 shares of the financial services provider’s stock after acquiring an additional 91,313 shares during the period. Victory Capital Management Inc.’s holdings in Synchrony Financial were worth $86,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYF. CVA Family Office LLC grew its position in Synchrony Financial by 355.9% in the 1st 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 last quarter. Accredited Wealth Management LLC bought a new position in shares of Synchrony Financial during the 4th quarter worth about $38,000. Rothschild Investment LLC lifted its holdings in Synchrony Financial by 55.6% during the 1st quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 308 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in 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 last quarter. Finally, Global Financial Private Client LLC grew its holdings in Synchrony Financial by 1,107.4% during the first quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 897 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYF has been the topic of several research reports. The Goldman Sachs Group upped their price target on shares of Synchrony Financial from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company boosted their price target on shares of Synchrony Financial from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Morgan Stanley upped their price objective on shares of Synchrony Financial from $48.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Barclays raised their price target on Synchrony Financial from $62.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.53.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $70.26 on Friday. The stock’s 50-day moving average is $62.89 and its 200-day moving average is $59.82. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 0.71 and a beta of 1.46. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick ratio of 1.25. Synchrony Financial has a one year low of $40.55 and a one year high of $71.88.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Equities analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $0.30 dividend. This is a positive change 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%. The ex-dividend date was Monday, May 5th. Synchrony Financial’s dividend payout ratio is 16.46%.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of Synchrony Financial 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 approximately $7,024,030. The trade was a 9.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 completion of the sale, the insider directly owned 146,628 shares of the company’s stock, valued at $8,807,943.96. This represents a 21.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

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.