Premier Path Wealth Partners LLC Acquires 423 Shares of Synchrony Financial (NYSE:SYF)

Premier Path Wealth Partners LLC raised its position in Synchrony Financial (NYSE:SYF) by 8.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,266 shares of the financial services provider’s stock after purchasing an additional 423 shares during the period. Premier Path Wealth Partners LLC’s holdings in Synchrony Financial were worth $342,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of SYF. AQR Capital Management LLC lifted its position in Synchrony Financial by 14.6% in the 2nd quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock valued at $264,917,000 after acquiring an additional 727,649 shares in the last quarter. Southpoint Capital Advisors LP lifted its holdings in Synchrony Financial by 37.9% during the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock valued at $229,448,000 after purchasing an additional 1,265,000 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Synchrony Financial by 3.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider’s stock worth $221,830,000 after buying an additional 157,948 shares during the period. Nordea Investment Management AB lifted its holdings in Synchrony Financial by 18.5% during the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after purchasing an additional 481,750 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Synchrony Financial by 1.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,199,554 shares of the financial services provider’s stock valued at $109,714,000 after purchasing an additional 37,484 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Up 1.4 %

NYSE SYF opened at $68.73 on Friday. The firm’s fifty day moving average price is $66.27 and its 200 day moving average price is $55.97. Synchrony Financial has a 12 month low of $35.29 and a 12 month high of $69.39. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $26.76 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 0.76 and a beta of 1.64.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the firm posted $1.48 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Synchrony Financial will post 6.53 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.46%. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.05%.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of research reports. Royal Bank of Canada raised their price target on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 17th. UBS Group raised their price objective on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Truist Financial assumed coverage on shares of Synchrony Financial in a report on Tuesday, January 7th. They set a “hold” rating and a $72.00 target price for the company. JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Finally, TD Cowen increased their price objective on shares of Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Synchrony Financial has a consensus rating of “Moderate Buy” and an average target price of $65.45.

Insiders Place Their Bets

In related news, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the transaction, the insider now directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction dated 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 transaction, the insider now owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Synchrony Financial Company 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.