Beacon Harbor Wealth Advisors Inc. Takes $5.79 Million Position in Synchrony Financial (NYSE:SYF)

Beacon Harbor Wealth Advisors Inc. acquired a new position in Synchrony Financial (NYSE:SYF - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 89,013 shares of the financial services provider's stock, valued at approximately $5,786,000.

Several other hedge funds have also modified their holdings of the company. Arizona State Retirement System grew its position in shares of Synchrony Financial by 1.4% in the fourth quarter. Arizona State Retirement System now owns 114,794 shares of the financial services provider's stock valued at $7,462,000 after purchasing an additional 1,598 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of Synchrony Financial by 5.5% during the fourth quarter. Verdence Capital Advisors LLC now owns 37,859 shares of the financial services provider's stock valued at $2,461,000 after acquiring an additional 1,966 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Synchrony Financial in the fourth quarter valued at approximately $10,530,000. Atria Investments Inc boosted its stake in shares of Synchrony Financial by 15.0% in the fourth quarter. Atria Investments Inc now owns 7,655 shares of the financial services provider's stock worth $498,000 after acquiring an additional 996 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Synchrony Financial by 0.7% during the fourth quarter. Assetmark Inc. now owns 1,329,269 shares of the financial services provider's stock worth $86,402,000 after purchasing an additional 9,646 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SYF shares. Keefe, Bruyette & Woods raised their price objective on Synchrony Financial from $62.00 to $82.00 and gave the company an "outperform" rating in a report on Monday, December 9th. UBS Group raised their price target on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Wells Fargo & Company raised shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Morgan Stanley raised shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and raised their target price for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. Finally, Barclays upgraded Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $59.00 to $79.00 in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Synchrony Financial has an average rating of "Moderate Buy" and a consensus target price of $69.30.

Synchrony Financial Stock Down 4.5 %

NYSE:SYF traded down $2.45 during trading hours on Monday, hitting $52.29. The company's stock had a trading volume of 6,519,561 shares, compared to its average volume of 3,981,830. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. 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 stock has a market capitalization of $20.33 billion, a P/E ratio of 6.12, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The stock has a fifty day moving average of $64.91 and a 200-day moving average of $60.07.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data 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 return on equity of 18.30% and a net margin of 15.36%. On average, equities analysts forecast 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. Synchrony Financial's payout ratio is currently 11.71%.

About Synchrony Financial

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.