Artemis Investment Management LLP Invests $2.33 Million in Synchrony Financial (NYSE:SYF)

Artemis Investment Management LLP acquired a new stake in shares of Synchrony Financial (NYSE:SYF - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,864 shares of the financial services provider's stock, valued at approximately $2,331,000.

A number of other institutional investors have also made changes to their positions in the stock. Federated Hermes Inc. lifted its position in shares of Synchrony Financial by 47.3% during the 2nd quarter. Federated Hermes Inc. now owns 27,210 shares of the financial services provider's stock worth $1,284,000 after purchasing an additional 8,732 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Synchrony Financial by 564.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 194,317 shares of the financial services provider's stock worth $9,170,000 after buying an additional 165,090 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Synchrony Financial by 109.7% during the second quarter. Intech Investment Management LLC now owns 37,905 shares of the financial services provider's stock worth $1,789,000 after buying an additional 19,831 shares during the last quarter. Ensign Peak Advisors Inc grew its stake in shares of Synchrony Financial by 9.1% in the second quarter. Ensign Peak Advisors Inc now owns 443,251 shares of the financial services provider's stock worth $20,917,000 after acquiring an additional 36,865 shares during the last quarter. Finally, Hancock Whitney Corp raised its stake in Synchrony Financial by 12.5% during the 2nd quarter. Hancock Whitney Corp now owns 56,976 shares of the financial services provider's stock valued at $2,689,000 after purchasing an additional 6,310 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYF has been the topic of several research reports. Morgan Stanley upgraded shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and boosted their price objective for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Wells Fargo & Company raised Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. UBS Group lifted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. JMP Securities restated a "market outperform" rating and issued a $60.00 target price on shares of Synchrony Financial in a research note on Monday, October 14th. Finally, StockNews.com upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.45.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now owns 127,587 shares of the company's stock, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the transaction, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Synchrony Financial Trading Up 1.4 %

Synchrony Financial stock traded up $0.92 during mid-day trading on Monday, hitting $68.73. The stock had a trading volume of 2,326,369 shares, compared to its average volume of 2,599,523. The stock has a market capitalization of $26.76 billion, a PE ratio of 8.97, a P/E/G ratio of 0.76 and a beta of 1.64. Synchrony Financial has a 12 month low of $35.29 and a 12 month high of $69.39. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock has a 50-day simple moving average of $66.27 and a two-hundred day simple moving average of $56.09.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial's dividend payout ratio (DPR) is 13.05%.

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.