Signet Financial Management LLC Sells 866 Shares of Synchrony Financial (NYSE:SYF)

Signet Financial Management LLC lowered its stake in Synchrony Financial (NYSE:SYF) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 44,582 shares of the financial services provider’s stock after selling 866 shares during the quarter. Signet Financial Management LLC’s holdings in Synchrony Financial were worth $1,703,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Live Oak Investment Partners bought a new stake in Synchrony Financial in the fourth quarter valued at $27,000. Covestor Ltd lifted its position in Synchrony Financial by 138.8% during the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after buying an additional 644 shares during the period. Exchange Traded Concepts LLC purchased a new position in Synchrony Financial during the third quarter valued at $35,000. Zions Bancorporation N.A. lifted its position in Synchrony Financial by 230.5% during the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after buying an additional 855 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after buying an additional 390 shares during the period. Institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SYF shares. Wolfe Research raised Synchrony Financial from an “underperform” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $50.00 in a research report on Thursday, April 4th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Piper Sandler raised their price objective on Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Synchrony Financial in a research report on Wednesday, January 10th. They set a “buy” rating and a $56.00 price objective for the company. Finally, Bank of America lifted their price target on Synchrony Financial from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.44.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $39.93 on Wednesday. Synchrony Financial has a fifty-two week low of $26.59 and a fifty-two week high of $43.83. The business has a 50-day simple moving average of $41.10 and a two-hundred day simple moving average of $36.22. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 1.01 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 quarter in the previous year, the firm earned $1.26 EPS. On average, analysts expect that Synchrony Financial will post 5.54 earnings per share for the current year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.50%. Synchrony Financial’s dividend payout ratio is currently 19.31%.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares in the company, valued at approximately $552,995.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares in the company, valued at approximately $552,995.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The disclosure for this sale can be found here. Insiders sold a total of 148,158 shares of company stock worth $6,106,106 in the last three months. 0.65% of the stock is currently owned by company insiders.

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.