Raleigh Capital Management Inc. Grows Stake in Synchrony Financial (NYSE:SYF)

Raleigh Capital Management Inc. grew its position in Synchrony Financial (NYSE:SYF) by 151.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 807 shares of the financial services provider’s stock after purchasing an additional 486 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Synchrony Financial were worth $52,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Graypoint LLC raised its position in Synchrony Financial by 4.0% during the third quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 181 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Synchrony Financial by 2.6% in the fourth quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 192 shares during the last quarter. Empirical Finance LLC lifted its position in Synchrony Financial by 1.3% during the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock worth $773,000 after buying an additional 204 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Synchrony Financial by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,208 shares of the financial services provider’s stock worth $1,314,000 after buying an additional 213 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Synchrony Financial by 0.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after acquiring an additional 251 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Curtis Howse sold 21,934 shares of the 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 represents a 18.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the insider now owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $70.39 on Friday. The business has a 50-day simple moving average of $66.53 and a 200-day simple moving average of $56.49. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a one year low of $37.64 and a one year high of $70.93. The company has a market cap of $27.41 billion, a PE ratio of 9.19, a P/E/G ratio of 0.83 and a beta of 1.64.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SYF. Jefferies Financial Group raised their price objective on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Truist Financial initiated coverage on Synchrony Financial in a report on Tuesday, January 7th. They issued a “hold” rating and a $72.00 price objective on the stock. Wells Fargo & Company raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $85.00 in a research note on Tuesday, December 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a research note on Monday, October 14th. Finally, Robert W. Baird set a $62.00 price objective on Synchrony Financial in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $65.45.

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.