Synchrony Financial (NYSE:SYF) Reaches New 1-Year High Following Dividend Announcement

Synchrony Financial (NYSE:SYF)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s payout ratio is 13.05%.

Analyst Ratings Changes

A number of equities research analysts recently commented on SYF shares. TD Cowen upped their target price on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $59.00 to $72.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods raised their target price on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a research report on Monday, October 14th. Finally, Evercore ISI increased their price target on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.45.

Synchrony Financial Trading Up 1.5 %

The firm has a market cap 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’s 50-day moving average price is $66.53 and its 200-day moving average price is $56.49. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the 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 completion of the transaction, the insider now directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction on 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 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 disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Synchrony Financial

A number of hedge funds have recently bought and sold shares of SYF. ProShare Advisors LLC increased its holdings in shares of Synchrony Financial by 112.2% in the second quarter. ProShare Advisors LLC now owns 227,656 shares of the financial services provider’s stock valued at $10,743,000 after purchasing an additional 120,373 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in 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 valued at $2,465,000 after buying an additional 251 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Synchrony Financial in the 2nd quarter worth $444,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Synchrony Financial by 57.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,928 shares of the financial services provider’s stock worth $3,677,000 after acquiring an additional 28,343 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Synchrony Financial during the 2nd quarter valued at about $10,972,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

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.