Simplicity Wealth LLC Purchases 11,162 Shares of Synchrony Financial (NYSE:SYF)

Simplicity Wealth LLC boosted its position in Synchrony Financial (NYSE:SYF) by 102.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,008 shares of the financial services provider’s stock after purchasing an additional 11,162 shares during the quarter. Simplicity Wealth LLC’s holdings in Synchrony Financial were worth $1,165,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Synchrony Financial by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider’s stock worth $650,678,000 after purchasing an additional 205,641 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Synchrony Financial by 7.4% in the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider’s stock worth $358,105,000 after purchasing an additional 380,870 shares in the last quarter. Norges Bank acquired a new position in shares of Synchrony Financial during the fourth quarter valued at about $347,903,000. Northern Trust Corp raised its position 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 valued at $336,942,000 after purchasing an additional 1,093,922 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Synchrony Financial by 9.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,576,854 shares of the financial services provider’s stock valued at $297,496,000 after purchasing an additional 382,194 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors.

Insider Activity at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction 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 sale, the insider now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SYF shares. Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. The Goldman Sachs Group decreased 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 report on Tuesday, March 18th. 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 report on Friday, April 25th. 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 report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.17.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $60.80 on Wednesday. The stock has a market capitalization of $23.14 billion, a price-to-earnings ratio of 7.12, a PEG ratio of 0.71 and a beta of 1.44. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93. The firm’s 50 day simple moving average is $53.82 and its 200-day simple moving average is $59.88. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24.

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

Synchrony Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.97%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.25. Synchrony Financial’s dividend payout ratio (DPR) is currently 16.46%.

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.