Synchrony Financial (NYSE:SYF) Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management lessened its position in shares of Synchrony Financial (NYSE:SYF) by 7.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,184 shares of the financial services provider’s stock after selling 260 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Synchrony Financial were worth $169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SYF. TCTC Holdings LLC acquired a new position in Synchrony Financial in the 4th quarter valued at about $27,000. CVA Family Office LLC boosted its position in shares of Synchrony Financial by 355.9% in the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 541 shares during the last quarter. Accredited Wealth Management LLC purchased a new stake in Synchrony Financial in the fourth quarter valued at approximately $38,000. Rothschild Investment LLC grew its holdings in Synchrony Financial by 55.6% in the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 308 shares during the period. Finally, Global Financial Private Client LLC grew its holdings in Synchrony Financial by 1,107.4% in the first quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 897 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley restated an “equal weight” rating and issued a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Cfra Research upgraded shares of Synchrony Financial to a “hold” rating in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their target price on shares of Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group lowered their target price on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and an average price target of $64.78.

Synchrony Financial Price Performance

Shares of SYF stock opened at $61.27 on Tuesday. The company has a market capitalization of $23.32 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The firm has a fifty day simple moving average of $55.18 and a 200-day simple moving average of $59.65. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a twelve month low of $40.55 and a twelve month high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. The business 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%. Equities research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal 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 issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 1.96%. Synchrony Financial’s dividend payout ratio is currently 16.46%.

Insider Activity at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 40,639 shares of the company’s 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 directly owns 146,628 shares of the company’s stock, valued at $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by corporate insiders.

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.