Checchi Capital Advisers LLC Sells 1,707 Shares of Synchrony Financial (NYSE:SYF)

Checchi Capital Advisers LLC trimmed its position in Synchrony Financial (NYSE:SYF) by 33.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,403 shares of the financial services provider’s stock after selling 1,707 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Synchrony Financial were worth $221,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Apollon Wealth Management LLC lifted its stake in shares of Synchrony Financial by 2.3% in the fourth quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 160 shares during the period. Gladstone Institutional Advisory LLC raised its holdings 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 during the last quarter. Graypoint LLC lifted its position in shares of Synchrony Financial by 4.0% in the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 181 shares during the period. Wedmont Private Capital boosted its stake in shares of Synchrony Financial by 2.6% in the 4th quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 192 shares during the last quarter. Finally, Empirical Finance LLC increased its position in shares of Synchrony Financial by 1.3% during the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock worth $773,000 after buying an additional 204 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Price Performance

SYF stock opened at $59.12 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50-day simple moving average of $66.06 and a two-hundred day simple moving average of $59.47. The company has a market capitalization of $22.98 billion, a P/E ratio of 6.92, a price-to-earnings-growth ratio of 0.71 and a beta of 1.63. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Research analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.69%. Synchrony Financial’s payout ratio is 11.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SYF shares. Royal Bank of Canada boosted their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. UBS Group boosted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. The Goldman Sachs Group raised their target price on Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Truist Financial boosted their price target on Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.30.

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.