C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Position in Synchrony Financial (NYSE:SYF)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Synchrony Financial (NYSE:SYF) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 372,070 shares of the financial services provider’s stock, valued at approximately $24,185,000. Synchrony Financial accounts for about 1.1% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings, making the stock its 17th largest position. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned about 0.10% of Synchrony Financial at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SYF. Larson Financial Group LLC boosted its stake in shares of Synchrony Financial by 92.7% in the 3rd 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. Y.D. More Investments Ltd lifted its stake in Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 253 shares during the last quarter. Quarry LP grew its holdings 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 acquiring an additional 675 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Synchrony Financial in the 3rd quarter valued at approximately $50,000. Finally, Raleigh Capital Management Inc. increased its position in shares of Synchrony Financial by 151.4% in 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. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYF has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their target price on shares of Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research report on Tuesday, January 28th. 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 report on Tuesday, December 3rd. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $59.00 to $79.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada raised their price objective on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.30.

Insiders Place Their Bets

In other news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial 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 directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF opened at $63.98 on Thursday. Synchrony Financial has a 1 year low of $38.25 and a 1 year high of $70.93. The stock has a market capitalization of $24.91 billion, a P/E ratio of 7.49, a P/E/G ratio of 0.72 and a beta of 1.63. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.25 and a current ratio of 1.24. The company’s fifty day moving average is $67.10 and its two-hundred day moving average is $58.31.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. On average, sell-side analysts predict that Synchrony Financial will post 7.45 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.71%.

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.