Synchrony Financial (NYSE:SYF) Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC increased its holdings in shares of Synchrony Financial (NYSE:SYF) by 17.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,480 shares of the financial services provider’s stock after purchasing an additional 951 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Synchrony Financial were worth $343,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Apollon Wealth Management LLC increased its position in Synchrony Financial by 2.3% during the 4th quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 160 shares in the last quarter. Covestor Ltd increased its position in Synchrony Financial by 6.0% during the 4th quarter. Covestor Ltd now owns 3,085 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 174 shares in the last quarter. Gladstone Institutional Advisory LLC increased its position in Synchrony Financial by 1.9% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 176 shares in the last quarter. Smithfield Trust Co increased its position in Synchrony Financial by 19.7% during the 4th quarter. Smithfield Trust Co now owns 1,099 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 181 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in Synchrony Financial by 2.0% during the 4th quarter. Gotham Asset Management LLC now owns 11,505 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 226 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction on Monday, May 19th. The stock was 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 $8,807,943.96. This trade represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Synchrony Financial Stock Performance

SYF stock opened at $61.48 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The firm has a market cap of $23.40 billion, a P/E ratio of 7.20, a P/E/G ratio of 0.71 and a beta of 1.44. Synchrony Financial has a 12-month low of $40.55 and a 12-month high of $70.93. The stock’s 50 day simple moving average is $54.51 and its 200 day simple moving average is $59.85.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results 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 business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. As a group, equities research analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.30 per share. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Monday, May 5th. Synchrony Financial’s dividend payout ratio is currently 16.46%.

Analyst Ratings Changes

A number of research firms recently issued reports on SYF. Evercore ISI dropped their target price 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. JPMorgan Chase & Co. decreased their price target on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company decreased their price target on Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Truist Financial decreased their price target on Synchrony Financial from $65.00 to $57.00 and set a “hold” rating for the company in a report on Friday, April 25th. Finally, The Goldman Sachs Group decreased their price target on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.17.

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.