Allstate Corp Makes New Investment in Synchrony Financial (NYSE:SYF)

Allstate Corp purchased a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 11,563 shares of the financial services provider's stock, valued at approximately $752,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its holdings in shares of Synchrony Financial by 7.4% in the 4th quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider's stock worth $358,105,000 after acquiring an additional 380,870 shares during the last quarter. Norges Bank purchased a new stake in Synchrony Financial in the 4th quarter valued at $347,903,000. Jacobs Levy Equity Management Inc. lifted its stake in Synchrony Financial by 3.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider's stock valued at $221,830,000 after acquiring an additional 157,948 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Synchrony Financial by 18.5% during the 4th 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 last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Synchrony Financial by 16.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,943,817 shares of the financial services provider's stock worth $126,348,000 after acquiring an additional 279,517 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

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Synchrony Financial Price Performance

NYSE SYF traded up $1.85 on Wednesday, hitting $55.11. The stock had a trading volume of 3,212,151 shares, compared to its average volume of 3,826,857. The firm has a 50-day moving average of $60.22 and a 200-day moving average of $60.67. 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 52-week low of $39.67 and a 52-week high of $70.93. The company has a market capitalization of $21.42 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67.

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

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.81%. Synchrony Financial's payout ratio is presently 11.71%.

Analyst Ratings Changes

Several research analysts recently weighed in on SYF shares. UBS Group boosted their price target 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. Barclays upgraded Synchrony Financial from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Truist Financial dropped their price target on Synchrony Financial from $77.00 to $65.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Royal Bank of Canada upped their price objective on Synchrony Financial from $70.00 to $73.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upgraded Synchrony Financial from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $68.10.

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.