Vident Advisory LLC Has $551,000 Holdings in Synchrony Financial (NYSE:SYF)

Vident Advisory LLC lessened its holdings in Synchrony Financial (NYSE:SYF) by 85.5% during the fourth quarter, HoldingsChannel reports. The fund owned 8,478 shares of the financial services provider’s stock after selling 50,101 shares during the quarter. Vident Advisory LLC’s holdings in Synchrony Financial were worth $551,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Synchrony Financial by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider’s stock worth $650,678,000 after acquiring an additional 205,641 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Synchrony Financial by 7.4% in the 4th quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider’s stock worth $358,105,000 after acquiring an additional 380,870 shares during the last quarter. Norges Bank acquired a new stake in shares of Synchrony Financial in the 4th quarter worth about $347,903,000. Northern Trust Corp raised its holdings in shares of Synchrony Financial by 26.7% in the 4th quarter. Northern Trust Corp now owns 5,183,717 shares of the financial services provider’s stock worth $336,942,000 after acquiring an additional 1,093,922 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Synchrony Financial by 15.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,602,422 shares of the financial services provider’s stock valued at $234,157,000 after buying an additional 471,958 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

SYF has been the subject of several analyst reports. Wall Street Zen upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Wells Fargo & Company decreased their price objective on shares of Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Truist Financial decreased their price objective on shares of Synchrony Financial from $65.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, April 25th. Bank of America increased their price objective on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Evercore ISI decreased their price objective on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Eight 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.95.

Insider Buying and Selling

In related news, insider Jonathan S. Mothner sold 40,639 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the transaction, the insider now directly owns 146,628 shares of the company’s stock, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by insiders.

Synchrony Financial Trading Down 1.2%

Shares of SYF stock opened at $56.75 on Tuesday. The company has a 50 day moving average of $52.66 and a 200-day moving average of $60.31. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a 12-month low of $40.55 and a 12-month high of $70.93. The firm has a market cap of $21.60 billion, a P/E ratio of 6.65, a PEG 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. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Sell-side analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.11%. Synchrony Financial’s dividend payout ratio (DPR) is 16.46%.

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.