Synchrony Financial (NYSE:SYF) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its holdings in shares of Synchrony Financial (NYSE:SYF) by 3.5% in the 4th quarter, Holdings Channel reports. The fund owned 194,382 shares of the financial services provider’s stock after selling 7,126 shares during the quarter. DAVENPORT & Co LLC’s holdings in Synchrony Financial were worth $12,635,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Larson Financial Group LLC boosted its holdings in shares of Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 292 shares during the last quarter. Quarry LP lifted its position in Synchrony Financial by 301.3% during the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after buying an additional 675 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Synchrony Financial during the third quarter worth $50,000. Raleigh Capital Management Inc. grew its holdings in Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after buying an additional 486 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Synchrony Financial by 36.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,662 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 445 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SYF. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a research report on Thursday, October 17th. TD Cowen increased their price objective on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Evercore ISI lifted their target price on Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus price target of $69.30.

Synchrony Financial Stock Down 0.8 %

Shares of NYSE SYF opened at $68.90 on Monday. The stock has a market cap of $26.82 billion, a P/E ratio of 8.07, a PEG ratio of 0.80 and a beta of 1.64. The business’s fifty day simple moving average is $67.16 and its 200-day simple moving average is $57.47. Synchrony Financial has a 12-month low of $37.91 and a 12-month high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.25 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. As a group, equities analysts predict that Synchrony Financial will post 6.73 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.45%. Synchrony Financial’s dividend payout ratio is currently 11.71%.

Insiders Place Their Bets

In other news, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

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.