Exchange Traded Concepts LLC Has $780,000 Stock Position in Synchrony Financial (NYSE:SYF)

Exchange Traded Concepts LLC trimmed its position in Synchrony Financial (NYSE:SYF) by 30.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,005 shares of the financial services provider’s stock after selling 5,134 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Synchrony Financial were worth $780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Southpoint Capital Advisors LP increased its position in Synchrony Financial by 37.9% in the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock worth $229,448,000 after purchasing an additional 1,265,000 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Synchrony Financial by 3.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider’s stock worth $221,830,000 after buying an additional 157,948 shares during the period. Nordea Investment Management AB grew its position in shares of Synchrony Financial by 18.5% during the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after buying an additional 481,750 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Synchrony Financial by 1.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,199,554 shares of the financial services provider’s stock worth $109,714,000 after buying an additional 37,484 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Synchrony Financial by 8.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,061,979 shares of the financial services provider’s stock worth $102,852,000 after buying an additional 158,960 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Trading Up 3.2 %

Shares of Synchrony Financial stock opened at $68.76 on Thursday. Synchrony Financial has a 12-month low of $37.91 and a 12-month high of $70.93. The stock has a market cap of $26.77 billion, a P/E ratio of 8.98, a P/E/G ratio of 0.83 and a beta of 1.64. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average is $66.93 and its 200-day moving average is $57.14.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. Equities research analysts predict that Synchrony Financial will post 6.54 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the transaction, the insider now directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction that occurred on 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 directly owns 127,587 shares in the company, valued at $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SYF. UBS Group boosted their target price on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a research report on Monday, October 14th. JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $59.00 to $72.00 in a research report on Monday, December 9th. Bank of America boosted their price objective on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada boosted their price objective on Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.05.

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.