Strategic Investment Advisors MI Cuts Stock Position in Synchrony Financial (NYSE:SYF)

Strategic Investment Advisors MI reduced its position in Synchrony Financial (NYSE:SYF) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,958 shares of the financial services provider’s stock after selling 553 shares during the quarter. Strategic Investment Advisors MI’s holdings in Synchrony Financial were worth $1,947,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CX Institutional boosted its holdings in shares of Synchrony Financial by 4.0% in the 4th quarter. CX Institutional now owns 5,755 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 222 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of Synchrony Financial by 32.5% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 33,619 shares of the financial services provider’s stock worth $2,187,000 after purchasing an additional 8,251 shares in the last quarter. FCG Investment Co boosted its holdings in shares of Synchrony Financial by 4.9% in the 4th quarter. FCG Investment Co now owns 22,158 shares of the financial services provider’s stock worth $1,440,000 after purchasing an additional 1,039 shares in the last quarter. Yeomans Consulting Group Inc. bought a new stake in shares of Synchrony Financial in the 4th quarter valued at about $348,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of 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 acquiring an additional 486 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $70.52 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $27.46 billion, a P/E ratio of 9.21, a PEG ratio of 0.83 and a beta of 1.64. The stock’s 50 day moving average is $66.75 and its 200 day moving average is $56.81. Synchrony Financial has a twelve month low of $37.74 and a twelve month high of $70.93.

Synchrony Financial Announces Dividend

The business 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 of this dividend is Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.42%. Synchrony Financial’s payout ratio is currently 13.05%.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction 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 SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This represents a 18.03 % 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 company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SYF shares. TD Cowen boosted their target price on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Compass Point boosted their target price on Synchrony Financial from $60.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group boosted their target price on Synchrony Financial from $72.50 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. 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 research report on Thursday, December 19th. Finally, Evercore ISI upped their price target on Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and an average price target of $67.30.

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.