Convergence Investment Partners LLC Increases Holdings in Synchrony Financial (NYSE:SYF)

Convergence Investment Partners LLC boosted its position in Synchrony Financial (NYSE:SYF - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,125 shares of the financial services provider's stock after buying an additional 9,491 shares during the quarter. Synchrony Financial makes up about 1.0% of Convergence Investment Partners LLC's portfolio, making the stock its 21st biggest position. Convergence Investment Partners LLC's holdings in Synchrony Financial were worth $4,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC grew its position in Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 292 shares in the last quarter. Y.D. More Investments Ltd increased its stake in Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock valued at $31,000 after buying an additional 253 shares during the last quarter. Quarry LP lifted its position in Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider's stock worth $45,000 after buying an additional 675 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Synchrony Financial during the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 96.48% of the company's stock.

Synchrony Financial Stock Down 3.9 %

NYSE:SYF traded down $2.50 during trading hours on Friday, reaching $61.35. The company had a trading volume of 3,937,381 shares, compared to its average volume of 3,704,167. Synchrony Financial has a twelve month low of $39.35 and a twelve month high of $70.93. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 0.73 and a beta of 1.63. The business's 50-day simple moving average is $66.69 and its two-hundred day simple moving average is $58.94. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

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, beating 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, equities analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently declared 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 yield of 1.63%. Synchrony Financial's dividend payout ratio (DPR) is currently 11.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America lifted their price objective on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Barclays raised Synchrony Financial from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. raised Synchrony Financial from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $59.00 to $72.00 in a research report on Monday, December 9th. Truist Financial lifted their target price on Synchrony Financial from $72.00 to $77.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group increased their price target on Synchrony Financial from $72.50 to $82.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.30.

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.