Canoe Financial LP Makes New $259,000 Investment in Synchrony Financial (NYSE:SYF)

Canoe Financial LP purchased a new position in Synchrony Financial (NYSE:SYF) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,888 shares of the financial services provider’s stock, valued at approximately $259,000.

Other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter worth about $27,000. CVA Family Office LLC lifted its holdings in shares of Synchrony Financial by 355.9% during the first 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 period. Accredited Wealth Management LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter worth about $38,000. Rothschild Investment LLC lifted its holdings in shares of Synchrony Financial by 55.6% during the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 308 shares during the period. Finally, Global Financial Private Client LLC lifted its holdings in shares of 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 worth $52,000 after purchasing an additional 897 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Up 1.4%

Synchrony Financial stock opened at $62.34 on Friday. The stock has a market capitalization of $23.73 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93. The business has a 50 day simple moving average of $56.21 and a 200-day simple moving average of $59.60. 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 (NYSE:SYF) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.80 billion. On average, analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.93%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 5th. Synchrony Financial’s payout ratio is presently 16.46%.

Insider Buying and Selling

In related news, insider Jonathan S. Mothner sold 40,639 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was 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 now directly owns 146,628 shares in the company, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SYF has been the subject of a number of research reports. Wall Street Zen raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 target price (down previously from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Cfra Research raised Synchrony Financial to a “hold” rating in a report on Tuesday, April 22nd. Evercore ISI reduced their price target on Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their price target on Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.78.

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.