Diligent Investors LLC Sells 375 Shares of Synchrony Financial (NYSE:SYF)

Diligent Investors LLC decreased its holdings in Synchrony Financial (NYSE:SYF) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,902 shares of the financial services provider’s stock after selling 375 shares during the period. Diligent Investors LLC’s holdings in Synchrony Financial were worth $1,164,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC grew its holdings in Synchrony Financial by 602.5% during the 4th quarter. CoreCap Advisors LLC now owns 5,388 shares of the financial services provider’s stock valued at $350,000 after buying an additional 4,621 shares in the last quarter. Crestline Management LP purchased a new position in Synchrony Financial during the fourth quarter valued at $6,746,000. Caption Management LLC bought a new stake in Synchrony Financial in the 4th quarter valued at $84,000. Cetera Investment Advisers lifted its stake in Synchrony Financial by 11.6% in the 4th quarter. Cetera Investment Advisers now owns 56,438 shares of the financial services provider’s stock worth $3,668,000 after purchasing an additional 5,868 shares in the last quarter. Finally, Centiva Capital LP bought a new position in shares of Synchrony Financial during the 4th quarter valued at about $825,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $53.49 on Wednesday. The firm’s 50 day simple moving average is $51.59 and its 200-day simple moving average is $60.21. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a one year low of $40.55 and a one year high of $70.93. The firm has a market cap of $20.36 billion, a PE ratio of 6.26, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.63 by $0.26. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. As a group, equities analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 5th. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.24%. Synchrony Financial’s dividend payout ratio is 16.46%.

Wall Street Analyst Weigh In

SYF has been the topic of several research reports. JPMorgan Chase & Co. reduced their target price on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Bank of America upped their price objective on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. UBS Group raised their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group dropped their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.95.

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.