Synchrony Financial (NYSE:SYF) Position Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Synchrony Financial (NYSE:SYF) by 45.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,458 shares of the financial services provider’s stock after acquiring an additional 33,867 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Synchrony Financial were worth $4,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its stake in Synchrony Financial by 58.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 280,952 shares of the financial services provider’s stock valued at $10,646,000 after acquiring an additional 103,222 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Synchrony Financial during the 4th quarter valued at about $212,000. International Assets Investment Management LLC bought a new stake in shares of Synchrony Financial in the 4th quarter valued at approximately $1,962,000. Private Trust Co. NA grew its stake in shares of Synchrony Financial by 13.4% in the 4th quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock valued at $104,000 after buying an additional 320 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Synchrony Financial by 4.9% in the 4th quarter. Ballentine Partners LLC now owns 11,439 shares of the financial services provider’s stock valued at $437,000 after buying an additional 534 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Insider Activity at Synchrony Financial

In related news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the transaction, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the sale, the insider now owns 152,604 shares in the company, valued at $6,534,503.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,158 shares of company stock worth $6,106,106. 0.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SYF has been the subject of several recent research reports. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. BMO Capital Markets cut Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 price target for the company. in a research note on Wednesday, January 10th. Bank of America boosted their price target on Synchrony Financial from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Piper Sandler boosted their target price on Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley restated an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Synchrony Financial presently has a consensus rating of “Hold” and an average price target of $41.44.

Synchrony Financial Stock Up 0.1 %

Shares of SYF stock opened at $40.47 on Tuesday. The stock has a 50 day moving average of $41.08 and a 200-day moving average of $36.15. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. The firm has a market cap of $16.46 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 1.00 and a beta of 1.61. Synchrony Financial has a 12 month low of $26.59 and a 12 month high of $43.83.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same period in the prior year, the company posted $1.26 earnings per share. On average, equities analysts predict that Synchrony Financial will post 5.54 EPS for the current year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid a $0.25 dividend. The ex-dividend date was Friday, February 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.47%. Synchrony Financial’s payout ratio is 19.31%.

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.