Synchrony Financial (NYSE:SYF) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. cut its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 73.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 216,000 shares of the financial services provider's stock after selling 594,550 shares during the period. APG Asset Management N.V. owned about 0.06% of Synchrony Financial worth $13,559,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SYF. Bogart Wealth LLC bought a new position in shares of Synchrony Financial during the 4th quarter valued at approximately $26,000. TCTC Holdings LLC bought a new position in Synchrony Financial during the fourth quarter valued at $27,000. Y.D. More Investments Ltd raised its stake in shares of Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 253 shares during the period. Raleigh Capital Management Inc. raised its stake in shares of Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 486 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Synchrony Financial by 46.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock worth $53,000 after acquiring an additional 257 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Compass Point cut Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price objective on the stock. in a research note on Tuesday, January 28th. UBS Group lifted their target price on Synchrony Financial from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Royal Bank of Canada raised their price target 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, Barclays raised shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $65.11.

Synchrony Financial Stock Performance

Shares of SYF stock traded up $0.55 during mid-day trading on Tuesday, reaching $47.51. The stock had a trading volume of 2,717,426 shares, compared to its average volume of 3,962,675. Synchrony Financial has a 1-year low of $39.67 and a 1-year high of $70.93. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of 5.56, a PEG ratio of 0.71 and a beta of 1.45. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The business's fifty day moving average is $55.78 and its 200-day moving average is $60.47.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share 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%. On average, research analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued 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 dividend yield of 2.10%. Synchrony Financial's dividend payout ratio (DPR) is presently 11.71%.

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.