Mirae Asset Global Investments Co. Ltd. Grows Position in Synchrony Financial (NYSE:SYF)

Mirae Asset Global Investments Co. Ltd. increased its stake in Synchrony Financial (NYSE:SYF) by 12.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,344 shares of the financial services provider’s stock after buying an additional 6,352 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Synchrony Financial were worth $3,031,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in shares of Synchrony Financial in the 4th quarter worth about $27,000. CVA Family Office LLC increased its stake in Synchrony Financial by 355.9% in the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider’s stock valued at $37,000 after buying an additional 541 shares during the period. Accredited Wealth Management LLC acquired a new stake in shares of Synchrony Financial during the 4th quarter valued at about $38,000. Rothschild Investment LLC increased its position in Synchrony Financial by 55.6% during the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider’s stock worth $46,000 after buying an additional 308 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in Synchrony Financial by 503.7% during the first quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 811 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $69.45 on Thursday. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 0.71 and a beta of 1.46. Synchrony Financial has a one year low of $40.55 and a one year high of $70.93. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25. The company’s 50-day moving average is $59.15 and its 200 day moving average is $59.51.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. Sell-side analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 1.73%. Synchrony Financial’s dividend payout ratio is presently 16.46%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. decreased their target price on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Truist Financial upped their price target on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a “hold” rating in a report on Friday, June 13th. Morgan Stanley reiterated an “equal weight” rating and issued a $44.00 price objective (down from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Finally, The Goldman Sachs Group raised their price target on Synchrony Financial from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average price target of $65.78.

Insiders Place Their Bets

In other news, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the sale, the insider owned 146,628 shares of the company’s stock, valued at approximately $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Curtis Howse sold 11,380 shares of the firm’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the transaction, the insider owned 108,062 shares in the company, valued at approximately $7,024,030. This represents a 9.53% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

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.