Artemis Investment Management LLP Makes New $2.33 Million Investment in Synchrony Financial (NYSE:SYF)

Artemis Investment Management LLP bought a new stake in shares of Synchrony Financial (NYSE:SYF) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 35,864 shares of the financial services provider’s stock, valued at approximately $2,331,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its holdings in Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after buying an additional 292 shares during the period. Altshuler Shaham Ltd purchased a new position in Synchrony Financial during the second quarter valued at $31,000. Quarry LP boosted its holdings in shares of Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after buying an additional 675 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Synchrony Financial in the 3rd quarter worth about $50,000. Finally, Venturi Wealth Management LLC lifted its position in Synchrony Financial by 36.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,662 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 445 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares of the company’s stock, valued at $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Synchrony Financial Trading Up 1.4 %

Synchrony Financial stock opened at $68.73 on Monday. Synchrony Financial has a 12-month low of $35.29 and a 12-month high of $69.39. The firm has a market capitalization of $26.76 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 0.76 and a beta of 1.64. The firm has a 50 day moving average of $66.27 and a 200 day moving average of $56.02. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s dividend payout ratio (DPR) is 13.05%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Truist Financial assumed coverage on shares of Synchrony Financial in a report on Tuesday, January 7th. They issued a “hold” rating and a $72.00 price objective for the company. UBS Group lifted their target price on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Morgan Stanley raised Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $82.00 in a report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.45.

Synchrony Financial Company 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.