Brighton Jones LLC Has $1.12 Million Stake in Synchrony Financial (NYSE:SYF)

Brighton Jones LLC boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 155.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,074 shares of the financial services provider’s stock after buying an additional 12,816 shares during the quarter. Brighton Jones LLC’s holdings in Synchrony Financial were worth $1,116,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Asset Management One Co. Ltd. increased its position in Synchrony Financial by 7.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider’s stock worth $11,787,000 after buying an additional 12,492 shares during the last quarter. BTC Capital Management Inc. increased its position in Synchrony Financial by 25.9% during the first quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider’s stock worth $3,485,000 after buying an additional 13,526 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Synchrony Financial during the fourth quarter worth $57,000. Merit Financial Group LLC increased its position in Synchrony Financial by 70.2% during the first quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider’s stock worth $564,000 after buying an additional 4,397 shares during the last quarter. Finally, NEOS Investment Management LLC grew its position in shares of Synchrony Financial by 31.4% in the fourth quarter. NEOS Investment Management LLC now owns 25,622 shares of the financial services provider’s stock valued at $1,665,000 after purchasing an additional 6,120 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SYF shares. Truist Financial raised their price target on Synchrony Financial from $63.00 to $68.00 and gave the company a “hold” rating in a research report on Friday. Evercore ISI lowered their price target on Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on shares of Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Wall Street Zen upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $64.78.

Insider Transactions at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 40,639 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the sale, the insider now directly owns 146,628 shares of the company’s stock, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $61.27 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $23.32 billion, a P/E ratio of 7.17, a P/E/G ratio of 0.71 and a beta of 1.44. The firm has a 50 day simple moving average of $55.18 and a 200 day simple moving average of $59.65. Synchrony Financial has a fifty-two week low of $40.55 and a fifty-two week high of $70.93.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. Sell-side 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 declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.96%. 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 dividend payout ratio (DPR) is currently 16.46%.

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.