Archford Capital Strategies LLC Takes $775,000 Position in Synchrony Financial (NYSE:SYF)

Archford Capital Strategies LLC purchased a new stake in Synchrony Financial (NYSE:SYF) in the 1st quarter, HoldingsChannel reports. The fund purchased 14,636 shares of the financial services provider’s stock, valued at approximately $775,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp boosted its position in shares of Synchrony Financial by 10.4% during the 4th quarter. Truist Financial Corp now owns 19,353 shares of the financial services provider’s stock valued at $1,258,000 after purchasing an additional 1,817 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Synchrony Financial during the 4th quarter valued at about $208,000. Impact Investors Inc bought a new stake in shares of Synchrony Financial during the 4th quarter valued at about $292,000. Mn Services Vermogensbeheer B.V. boosted its position in shares of Synchrony Financial by 1.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 161,300 shares of the financial services provider’s stock valued at $10,484,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Synchrony Financial by 22.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 21,203 shares of the financial services provider’s stock valued at $1,378,000 after purchasing an additional 3,824 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

SYF has been the topic of several research analyst reports. The Goldman Sachs Group cut their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Wall Street Zen upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Wells Fargo & Company cut their target price on Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Evercore ISI cut their target price on Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their target price on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.78.

Insider Transactions 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 stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the sale, the insider now directly owns 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $64.99 on Thursday. The company has a market cap of $24.74 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.68 and a beta of 1.44. Synchrony Financial has a 52 week low of $40.55 and a 52 week high of $70.93. The business has a 50 day moving average price of $57.25 and a 200-day moving average price of $59.54. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.11.

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 the consensus estimate of $1.63 by $0.26. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid 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 dividend yield of 1.85%. Synchrony Financial’s dividend payout ratio is 16.46%.

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.