IndexIQ Advisors LLC raised its position in shares of Synchrony Financial (NYSE:SYF) by 27.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,014 shares of the financial services provider’s stock after purchasing an additional 28,378 shares during the period. IndexIQ Advisors LLC’s holdings in Synchrony Financial were worth $4,718,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYF. Sanders Capital LLC lifted its stake in shares of Synchrony Financial by 14.2% in the 4th quarter. Sanders Capital LLC now owns 3,891,074 shares of the financial services provider’s stock valued at $155,531,000 after acquiring an additional 483,500 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Synchrony Financial by 611.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,158,833 shares of the financial services provider’s stock valued at $107,685,000 after buying an additional 2,715,033 shares during the period. Russell Investments Group Ltd. grew its holdings in Synchrony Financial by 2.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,157,388 shares of the financial services provider’s stock worth $107,146,000 after acquiring an additional 89,977 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Synchrony Financial by 263.0% in the third quarter. Assenagon Asset Management S.A. now owns 2,110,162 shares of the financial services provider’s stock valued at $71,935,000 after acquiring an additional 1,528,866 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Synchrony Financial by 11.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,045,530 shares of the financial services provider’s stock valued at $69,735,000 after acquiring an additional 203,690 shares during the period. Institutional investors and hedge funds own 86.35% of the company’s stock.
A number of research firms have recently weighed in on SYF. ValuEngine upgraded shares of Synchrony Financial from a “strong sell” rating to a “sell” rating in a report on Friday, January 24th. Nomura reiterated a “hold” rating and issued a $34.00 price objective on shares of Synchrony Financial in a report on Sunday. Bank of America assumed coverage on Synchrony Financial in a research report on Monday, December 2nd. They issued a “buy” rating and a $42.00 price objective on the stock. Stephens raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a research note on Monday, January 27th. Finally, Barclays restated a “hold” rating and set a $37.00 target price on shares of Synchrony Financial in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $38.92.
Shares of NYSE:SYF opened at $33.75 on Thursday. Synchrony Financial has a 52-week low of $30.54 and a 52-week high of $38.18. The firm has a market capitalization of $21.50 billion, a P/E ratio of 6.08, a P/E/G ratio of 1.13 and a beta of 1.21. The stock has a 50 day moving average price of $34.62 and a 200-day moving average price of $34.85. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.34 and a current ratio of 1.35.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.02. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.97 billion. Synchrony Financial had a return on equity of 19.62% and a net margin of 19.63%. During the same period in the previous year, the company posted $1.09 earnings per share. On average, equities analysts forecast that Synchrony Financial will post 4.1 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Thursday, February 6th. Synchrony Financial’s dividend payout ratio (DPR) is presently 20.51%.
About Synchrony Financial
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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