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Simplicity Solutions LLC Increases Equity Position in Synchrony Financial (NYSE:SYF)


Simplicity Solutions LLC grew its holdings in Synchrony Financial (NYSE:SYF – Free Report) by 67.6% in the fourth quarter, according to its most recent SEC filing. The fund owned 13,468 shares of the financial services provider, after buying an additional 5,432 shares during the period. Simplicity Solutions LLC’s holdings in Synchrony Financial were worth $514,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Live Oak Investment Partners bought a new stake in shares of Synchrony Financial in the fourth quarter worth approximately $27,000. Covestor Ltd increased its stake in shares of Synchrony Financial by 138.8% in the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider valued at $39,000, after purchasing an additional 644 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Synchrony Financial in the third quarter worth approximately $35,000. Zions Bancorporation NA increased its stake in shares of Synchrony Financial by 230.5% in the first quarter. Zions Bancorporation NA now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 855 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Synchrony Financial by 44.1% in the fourth quarter. Mass Mutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 390 shares in the last quarter. 96.48% of the shares are owned by hedge funds and other institutional investors.

Synchronous financial trading increases by 2.8%

Shares of SYF opened at $40.80 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. The company’s 50-day moving average is $41.16 and its two-hundred-day moving average is $36.27. Synchrony Financial has a 12-month low of $26.59 and a 12-month high of $43.83. The company has a market cap of $16.60 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 0.99, and a beta of 1.61.

Synchrony Financial (NYSE:SYF – Get Free Report) posted its latest earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period last year, the company posted earnings per share of $1.26. On average, research analysts predict that Synchrony Financial will post earnings per share of 5.54 for the current fiscal year.

Synchrony Financial announces dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15. Well-known shareholders received a $0.25 dividend on Monday, February 5. The ex-dividend date of this dividend was Friday, February 2. This represents a dividend of $1.00 annually and a dividend yield of 2.45%. Synchrony Financial’s dividend payout ratio currently stands at 19.31%.

Analyst upgrades and downgrades

A number of stock analysts have recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Synchrony Financial from $38.00 to $45.00 and gave the company an “equalweight” rating in a report on Wednesday, April 10. JMP Securities raised their target price on shares of Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Friday, January 12th. Stephens raised his price target on shares of Synchrony Financial from $40.00 to $46.00 and gave the stock an “equalweight” rating in a research note on Wednesday, January 24. Piper Sandler raised their price target on shares of Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24. Finally, Wolfe Research upgraded shares of Synchrony Financial from an “underperform” rating to an “outperform” rating and raised their price target for the stock from $36.00 to $50.00 in a research note on Thursday, April 4. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Synchrony Financial currently has an average rating of “Hold” and a consensus price of $41.44.

Get our latest report on Synchrony Financial

Insider activity

In other news, insider David P. Melito sold 7,283 shares of the stock in a transaction that occurred on Thursday, February 1. The shares sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission and accessible through the SEC’s website. In other news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now directly owns 660,353 shares in the company, valued at $27,246,164.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission and accessible through the SEC’s website. Insider David P. Melito also sold 7,283 shares of the stock in a transaction that occurred on Thursday, February 1. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the sale, the insider now owns 14,183 shares in the company, valued at $552,995.17. The explanation of this sale can be found here. Insiders have sold 148,158 shares of the company’s stock worth $6,106,106 in the last ninety days. Currently, 0.65% of the shares are owned by insiders.

Synchronous financial company profile

(Free report)

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services provider in the United States. It offers credit products such as credit cards, commercial credit products and consumer installment loans. The company also offers private label credit cards, dual co-brand credit cards and general purpose credit cards, short and long term loans and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market and savings accounts, and sweep and affinity deposits, and accepts deposits through third-party brokers.

Read further

Would you like to see which other hedge funds own SYF? Visit HoldingsChannel.com for the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF – Free Report).

Quarterly Institutional Ownership for Synchrony Financial (NYSE:SYF)



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