Synchrony Financial (NYSE:SYF) Hits New 12-Month High Following Dividend Announcement

Synchrony Financial (NYSE:SYF) shares reached a new 52-week high on Tuesday after the company announced a dividend. The company traded as high as $69.67 and last traded at $69.47, with a volume of 150662 shares trading hands. The stock had previously closed at $68.75.

The newly announced dividend which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis 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 13.05%.

Wall Street Analysts Forecast Growth

SYF has been the subject of a number of recent analyst reports. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a research note on Thursday, October 17th. Jefferies Financial Group increased their price target on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Compass Point boosted their price objective on Synchrony Financial from $60.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft increased their target price on Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.45.

Synchrony Financial Price Performance

The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $27.45 billion, a PE ratio of 9.20, a P/E/G ratio of 0.82 and a beta of 1.64. The stock has a fifty day moving average price of $66.53 and a 200-day moving average price of $56.49.

Insider Buying and Selling at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, the insider now owns 127,587 shares of the company’s stock, valued at $8,291,879.13. This represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction on 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 directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYF. Larson Financial Group LLC increased 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 valued at $30,000 after acquiring an additional 292 shares in the last quarter. Quarry LP grew its position in Synchrony Financial by 301.3% during the 3rd 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 last quarter. Capital Performance Advisors LLP purchased a new stake in Synchrony Financial during the 3rd quarter worth approximately $50,000. Raleigh Capital Management Inc. increased its stake in Synchrony Financial by 151.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 486 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Synchrony Financial by 36.6% in the third quarter. Venturi Wealth Management LLC now owns 1,662 shares of the financial services provider’s stock worth $83,000 after buying an additional 445 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Company 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.