United Asset Strategies Inc. Sells 2,667 Shares of Synchrony Financial (NYSE:SYF)

United Asset Strategies Inc. lessened its holdings in Synchrony Financial (NYSE:SYF) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 135,156 shares of the financial services provider’s stock after selling 2,667 shares during the period. United Asset Strategies Inc.’s holdings in Synchrony Financial were worth $8,785,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Southpoint Capital Advisors LP lifted its holdings in Synchrony Financial by 37.9% during the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock worth $229,448,000 after purchasing an additional 1,265,000 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its holdings in shares of Synchrony Financial by 389.8% during the third quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock worth $56,797,000 after buying an additional 906,172 shares in the last quarter. Soros Fund Management LLC bought a new stake in shares of Synchrony Financial in the third quarter valued at about $41,088,000. Assenagon Asset Management S.A. grew its stake in shares of Synchrony Financial by 589.3% in the third quarter. Assenagon Asset Management S.A. now owns 644,203 shares of the financial services provider’s stock valued at $32,133,000 after acquiring an additional 550,750 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Synchrony Financial by 18.5% during the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after acquiring an additional 481,750 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYF. Royal Bank of Canada increased their target price on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 17th. Compass Point raised their price objective on Synchrony Financial from $60.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. 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. Morgan Stanley raised Synchrony Financial from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Finally, UBS Group increased their price objective on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus target price of $67.30.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. This trade represents a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $70.52 on Monday. The firm has a market capitalization of $27.46 billion, a PE ratio of 9.21, a P/E/G ratio of 0.83 and a beta of 1.64. The company has a 50-day moving average price of $66.75 and a two-hundred day moving average price of $56.81. Synchrony Financial has a twelve month low of $37.74 and a twelve month high of $70.93. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s payout ratio is 13.05%.

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.