State of Alaska Department of Revenue Sells 35,617 Shares of Synchrony Financial (NYSE:SYF)

State of Alaska Department of Revenue trimmed its position in Synchrony Financial (NYSE:SYF - Free Report) by 44.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,389 shares of the financial services provider's stock after selling 35,617 shares during the quarter. State of Alaska Department of Revenue's holdings in Synchrony Financial were worth $2,885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Y.D. More Investments Ltd boosted its holdings in shares of Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock worth $31,000 after buying an additional 253 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock worth $30,000 after purchasing an additional 292 shares during the period. Raleigh Capital Management Inc. boosted its holdings in shares of Synchrony Financial by 151.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock worth $52,000 after purchasing an additional 486 shares during the period. Quarry LP boosted its holdings in shares of Synchrony Financial by 301.3% during the third quarter. Quarry LP now owns 899 shares of the financial services provider's stock worth $45,000 after purchasing an additional 675 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Synchrony Financial during the third quarter worth approximately $50,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jonathan S. Mothner sold 34,163 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.

Synchrony Financial Stock Performance

SYF traded up $0.06 during trading on Thursday, reaching $64.06. 3,654,136 shares of the company's stock were exchanged, compared to its average volume of 3,721,436. Synchrony Financial has a fifty-two week low of $38.78 and a fifty-two week high of $70.93. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average price of $67.04 and a 200 day moving average price of $58.35. The company has a market capitalization of $24.94 billion, a P/E ratio of 7.50, a PEG ratio of 0.72 and a beta of 1.63.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, analysts predict that Synchrony Financial will post 7.45 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.56%. Synchrony Financial's dividend payout ratio is currently 11.71%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company upgraded shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $60.00 to $85.00 in a report on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on shares of Synchrony Financial from $72.50 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Evercore ISI raised their price target on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Truist Financial raised their price target on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Synchrony Financial from $58.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.30.

About Synchrony Financial

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.