Allspring Global Investments Holdings LLC Has $3.66 Million Holdings in Synchrony Financial (NYSE:SYF)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,075 shares of the financial services provider's stock after selling 4,797 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Synchrony Financial were worth $3,659,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC lifted its position in shares of Synchrony Financial by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider's stock worth $604,000 after buying an additional 176 shares during the last quarter. TFB Advisors LLC acquired a new stake in Synchrony Financial in the 4th quarter worth approximately $237,000. Certuity LLC lifted its holdings in Synchrony Financial by 3.0% in the 4th quarter. Certuity LLC now owns 31,998 shares of the financial services provider's stock worth $2,080,000 after purchasing an additional 938 shares during the last quarter. Sovran Advisors LLC bought a new stake in Synchrony Financial during the fourth quarter worth approximately $1,511,000. Finally, Carnegie Lake Advisors LLC acquired a new position in Synchrony Financial during the fourth quarter valued at approximately $239,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on SYF shares. UBS Group upped their price objective on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Keefe, Bruyette & Woods raised their price target on Synchrony Financial from $62.00 to $82.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. The Goldman Sachs Group lifted their price objective on Synchrony Financial from $72.50 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Evercore ISI increased their target price on Synchrony Financial from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, Truist Financial lifted their price target on Synchrony Financial from $72.00 to $77.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.30.

Synchrony Financial Price Performance

Shares of NYSE SYF traded down $2.50 during midday trading on Friday, reaching $61.35. 3,937,381 shares of the company traded hands, compared to its average volume of 3,704,167. The stock's 50-day simple moving average is $66.69 and its 200-day simple moving average is $58.94. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 12 month low of $39.35 and a 12 month high of $70.93. The firm has a market cap of $23.85 billion, a PE ratio of 7.18, a PEG ratio of 0.73 and a beta of 1.63.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, equities analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.63%. Synchrony Financial's payout ratio is 11.71%.

Synchrony Financial 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.