Commonwealth Equity Services LLC Boosts Position in Synchrony Financial (NYSE:SYF)

Commonwealth Equity Services LLC grew its position in Synchrony Financial (NYSE:SYF) by 7.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 44,519 shares of the financial services provider’s stock after purchasing an additional 3,083 shares during the period. Commonwealth Equity Services LLC’s holdings in Synchrony Financial were worth $2,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SYF. New Wave Wealth Advisors LLC purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at about $452,000. National Bank of Canada FI increased its stake in shares of Synchrony Financial by 119.0% during the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock worth $12,123,000 after purchasing an additional 132,047 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Synchrony Financial by 7.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider’s stock worth $11,787,000 after purchasing an additional 12,492 shares during the last quarter. Brophy Wealth Management LLC purchased a new stake in Synchrony Financial in the 3rd quarter valued at approximately $544,000. Finally, Summit Trail Advisors LLC acquired a new stake in Synchrony Financial during the 4th quarter valued at $423,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Up 0.1 %

SYF opened at $55.85 on Wednesday. Synchrony Financial has a 1 year low of $39.67 and a 1 year high of $70.93. The firm has a 50 day moving average price of $62.03 and a 200 day moving average price of $60.47. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $21.71 billion, a PE ratio of 6.54, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Sell-side analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.79%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

Analysts Set New Price Targets

Several analysts have recently issued reports on SYF shares. Truist Financial reduced their price objective on Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. UBS Group upped their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, January 13th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Wells Fargo & Company upgraded shares of 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. Finally, The Goldman Sachs Group cut their price target on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.10.

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.