CreativeOne Wealth LLC Acquires New Position in Synchrony Financial (NYSE:SYF)

CreativeOne Wealth LLC purchased a new position in Synchrony Financial (NYSE:SYF - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,181 shares of the financial services provider's stock, valued at approximately $532,000.

A number of other hedge funds have also modified their holdings of the company. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Synchrony Financial by 7.4% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 57,961 shares of the financial services provider's stock worth $2,891,000 after acquiring an additional 3,984 shares during the period. World Investment Advisors LLC bought a new position in Synchrony Financial during the 3rd quarter worth $205,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Synchrony Financial in the 3rd quarter worth approximately $217,000. Tidal Investments LLC grew its stake in Synchrony Financial by 88.3% during the third quarter. Tidal Investments LLC now owns 66,361 shares of the financial services provider's stock worth $3,310,000 after purchasing an additional 31,124 shares during the period. Finally, Synovus Financial Corp raised its holdings in shares of Synchrony Financial by 18.6% during the third quarter. Synovus Financial Corp now owns 9,459 shares of the financial services provider's stock valued at $472,000 after purchasing an additional 1,482 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of recent analyst reports. Compass Point lowered shares of Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price target on the stock. in a research report on Tuesday, January 28th. Morgan Stanley reissued an "equal weight" rating and issued a $44.00 price target (down previously from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. StockNews.com lowered shares of Synchrony Financial from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, Barclays raised Synchrony Financial from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.37.

Synchrony Financial Stock Performance

NYSE SYF traded up $1.92 during trading on Thursday, reaching $51.83. The company's stock had a trading volume of 1,436,835 shares, compared to its average volume of 3,962,511. The firm has a 50 day moving average price of $53.30 and a 200 day moving average price of $60.23. The firm has a market capitalization of $20.15 billion, a price-to-earnings ratio of 6.07, a price-to-earnings-growth 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. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. The company had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. As a group, equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.32%. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date is Monday, May 5th. Synchrony Financial's dividend payout ratio is 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.