Synchrony Financial (NYSE:SYF) Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lowered its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 23.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,376 shares of the financial services provider's stock after selling 8,436 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Synchrony Financial were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SYF. New Wave Wealth Advisors LLC acquired a new stake in Synchrony Financial in the fourth quarter valued at $452,000. Asset Management One Co. Ltd. raised its position in shares of Synchrony Financial by 7.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider's stock worth $11,787,000 after acquiring an additional 12,492 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Synchrony Financial during the fourth quarter worth approximately $57,000. Summit Trail Advisors LLC acquired a new position in Synchrony Financial in the fourth quarter valued at approximately $423,000. Finally, NEOS Investment Management LLC raised its holdings in Synchrony Financial by 31.4% during the fourth quarter. NEOS Investment Management LLC now owns 25,622 shares of the financial services provider's stock worth $1,665,000 after purchasing an additional 6,120 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Trading Down 1.0 %

Shares of Synchrony Financial stock traded down $0.50 during trading hours on Friday, reaching $51.42. 5,001,803 shares of the company's stock were exchanged, compared to its average volume of 3,951,226. The firm has a market capitalization of $19.99 billion, a price-to-earnings ratio of 6.02, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. 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 52-week low of $40.55 and a 52-week high of $70.93. The company has a fifty day moving average of $52.76 and a 200-day moving average of $60.23.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. Sell-side analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's payout ratio is presently 11.71%.

Analysts Set New Price Targets

A number of research analysts recently commented on SYF shares. UBS Group increased their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Bank of America lifted their price target on Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. StockNews.com cut shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. The Goldman Sachs Group reduced 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. Finally, Royal Bank of Canada lifted their target price on Synchrony Financial from $70.00 to $73.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 29th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $63.95.

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.