Corient Private Wealth LLC Sells 31,892 Shares of Synchrony Financial (NYSE:SYF)

Corient Private Wealth LLC cut its stake in Synchrony Financial (NYSE:SYF - Free Report) by 33.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,321 shares of the financial services provider's stock after selling 31,892 shares during the period. Corient Private Wealth LLC's holdings in Synchrony Financial were worth $4,116,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Southpoint Capital Advisors LP lifted its position in Synchrony Financial by 37.9% in the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider's stock worth $229,448,000 after buying an additional 1,265,000 shares during the last quarter. Zurich Insurance Group Ltd FI raised its stake in shares of Synchrony Financial by 389.8% during the third quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider's stock worth $56,797,000 after acquiring an additional 906,172 shares in the last quarter. Soros Fund Management LLC bought a new stake in shares of Synchrony Financial in the 3rd quarter worth approximately $41,088,000. Nordea Investment Management AB grew its holdings in shares of 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 valued at $200,756,000 after purchasing an additional 481,750 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Synchrony Financial by 71.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,130,266 shares of the financial services provider's stock worth $56,378,000 after buying an additional 469,772 shares during the period. Institutional investors own 96.48% of the company's stock.

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Analyst Upgrades and Downgrades

SYF has been the subject of several research analyst reports. Wells Fargo & Company upgraded Synchrony Financial from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $60.00 to $85.00 in a report on Tuesday, December 3rd. UBS Group boosted their price objective on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Morgan Stanley upgraded Synchrony Financial from an "underweight" rating to an "overweight" rating and increased their target price for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods boosted 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. Finally, Truist Financial reduced their price objective on shares of Synchrony Financial from $77.00 to $65.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $68.10.

Synchrony Financial Trading Down 1.2 %

Shares of SYF traded down $0.67 on Wednesday, reaching $55.18. 3,961,475 shares of the company's stock were exchanged, compared to its average volume of 3,642,662. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93. The stock has a market capitalization of $21.45 billion, a P/E ratio of 6.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The business has a 50 day moving average price of $62.03 and a two-hundred day moving average price of $60.47.

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

Synchrony Financial Dividend Announcement

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

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.