Savant Capital LLC reduced its position in Synchrony Financial (NYSE:SYF – Free Report) by 90.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,477 shares of the financial services provider’s stock after selling 87,699 shares during the period. Savant Capital LLC’s holdings in Synchrony Financial were worth $791,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. boosted its holdings in shares of Synchrony Financial by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 358 shares of the financial services provider’s stock valued at $25,000 after buying an additional 179 shares in the last quarter. FWL Investment Management LLC bought a new stake in shares of Synchrony Financial in the 3rd quarter valued at about $26,000. Palisade Asset Management LLC bought a new stake in shares of Synchrony Financial in the 3rd quarter valued at about $29,000. Colonial Trust Co SC boosted its holdings in shares of Synchrony Financial by 40.2% in the 3rd quarter. Colonial Trust Co SC now owns 474 shares of the financial services provider’s stock valued at $34,000 after buying an additional 136 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in shares of Synchrony Financial by 34.4% in the 4th quarter. CoreCap Advisors LLC now owns 543 shares of the financial services provider’s stock valued at $45,000 after buying an additional 139 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.
Synchrony Financial Stock Performance
SYF opened at $70.99 on Wednesday. Synchrony Financial has a 12-month low of $56.97 and a 12-month high of $88.77. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $23.88 billion, a PE ratio of 7.34, a P/E/G ratio of 0.62 and a beta of 1.33. The firm has a 50 day moving average of $72.02 and a two-hundred day moving average of $74.73.
Synchrony Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. Synchrony Financial’s dividend payout ratio (DPR) is currently 12.41%.
Synchrony Financial declared that its board has authorized a stock repurchase plan on Tuesday, April 21st that permits the company to buyback $0.00 in shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on SYF shares. Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a report on Monday, April 20th. JPMorgan Chase & Co. lowered their target price on shares of Synchrony Financial from $84.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Wells Fargo & Company lowered their target price on shares of Synchrony Financial from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Truist Financial lifted their target price on shares of Synchrony Financial from $71.00 to $82.00 and gave the stock a “hold” rating in a research note on Thursday, April 23rd. Finally, Barclays lifted their target price on shares of Synchrony Financial from $82.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.05.
Check Out Our Latest Stock Report on Synchrony Financial
Insider Transactions at Synchrony Financial
In other Synchrony Financial news, insider Jonathan S. Mothner sold 51,258 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $71.23, for a total transaction of $3,651,107.34. Following the completion of the transaction, the insider directly owned 132,664 shares of the company’s stock, valued at approximately $9,449,656.72. This trade represents a 27.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.36% of the company’s stock.
About Synchrony Financial
Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.
Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.
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