Synchrony Financial (NYSE:SYF) Hits New 52-Week High Following Dividend Announcement

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

The newly announced dividend which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Monday, February 3rd. Synchrony Financial’s dividend payout ratio is 13.05%.

Analyst Ratings Changes

SYF has been the subject of a number of research analyst reports. Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $59.00 to $79.00 in a report on Monday, January 6th. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Compass Point increased their target price on shares of Synchrony Financial from $60.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.45.

Synchrony Financial Trading Up 1.5 %

The company has a market capitalization of $27.45 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.82 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 company’s fifty day simple moving average is $66.53 and its two-hundred day simple moving average is $56.49.

Insider Activity at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the company’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 value 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. This trade represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SYF. Larson Financial Group LLC raised its stake in Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after buying an additional 292 shares during the period. Raleigh Capital Management Inc. lifted its holdings 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 during the last quarter. Quarry LP boosted its position in Synchrony Financial by 301.3% during the third 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 period. Capital Performance Advisors LLP bought a new position in shares of Synchrony Financial in the third quarter valued at about $50,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Synchrony Financial by 36.6% during the 3rd 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 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.