C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases Shares of 372,070 Synchrony Financial (NYSE:SYF)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Synchrony Financial (NYSE:SYF - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 372,070 shares of the financial services provider's stock, valued at approximately $24,185,000. Synchrony Financial comprises approximately 1.1% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' portfolio, making the stock its 17th biggest holding. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned 0.10% of Synchrony Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. CWM LLC raised its stake in Synchrony Financial by 2.6% during the third quarter. CWM LLC now owns 20,772 shares of the financial services provider's stock valued at $1,036,000 after purchasing an additional 526 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Synchrony Financial by 7,655.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,139 shares of the financial services provider's stock worth $855,000 after buying an additional 16,918 shares during the last quarter. Creative Planning raised its position in shares of Synchrony Financial by 1.0% during the 3rd quarter. Creative Planning now owns 30,064 shares of the financial services provider's stock valued at $1,500,000 after buying an additional 308 shares in the last quarter. Swedbank AB lifted its holdings in shares of Synchrony Financial by 0.3% in the 3rd quarter. Swedbank AB now owns 99,773 shares of the financial services provider's stock valued at $4,977,000 after acquiring an additional 312 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in Synchrony Financial by 125.6% in the third quarter. Vontobel Holding Ltd. now owns 16,080 shares of the financial services provider's stock worth $802,000 after acquiring an additional 8,952 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Up 1.7 %

NYSE:SYF traded up $1.11 during mid-day trading on Friday, reaching $65.19. The company's stock had a trading volume of 2,063,295 shares, compared to its average volume of 3,743,421. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a 1 year low of $39.26 and a 1 year high of $70.93. The stock has a fifty day moving average of $66.93 and a 200-day moving average of $58.55. The firm has a market capitalization of $25.38 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 0.72 and a beta of 1.63.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced 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%. Equities research analysts forecast that Synchrony Financial will post 7.45 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. Synchrony Financial's dividend payout ratio is presently 11.71%.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on Synchrony Financial from $72.50 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price target on Synchrony Financial from $70.00 to $73.00 and gave the company a "sector perform" rating in a report on Wednesday, January 29th. Morgan Stanley raised shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and lifted their price objective for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. Keefe, Bruyette & Woods increased their target price on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company raised shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Synchrony Financial has a consensus rating of "Moderate Buy" and an average target price of $69.30.

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.