Kentucky Retirement Systems Insurance Trust Fund Acquires New Position in Synchrony Financial (NYSE:SYF)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Synchrony Financial (NYSE:SYFFree Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,305 shares of the financial services provider’s stock, valued at approximately $598,000.

Other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC acquired a new position in shares of Synchrony Financial in the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC acquired a new position in Synchrony Financial during the 4th quarter worth approximately $38,000. CVA Family Office LLC grew its holdings in Synchrony Financial by 355.9% during the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 541 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Synchrony Financial by 46.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 257 shares in the last quarter. Finally, Rothschild Investment LLC grew 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 worth $46,000 after acquiring an additional 308 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Up 2.4%

SYF stock opened at $64.75 on Wednesday. The company has a fifty day moving average price of $56.89 and a 200 day moving average price of $59.50. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93. The company has a market cap of $24.65 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 0.66 and a beta of 1.44. 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:SYFGet Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.26. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. Sell-side analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $0.30 dividend. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial’s payout ratio is currently 16.46%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SYF. Morgan Stanley reiterated an “equal weight” rating and set a $44.00 price target (down previously from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Wall Street Zen upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Cfra Research upgraded shares of Synchrony Financial to a “hold” rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Evercore ISI reduced their price objective on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and an average target price of $64.78.

Read Our Latest Report on Synchrony Financial

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

About Synchrony Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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