Synchrony Financial (NYSE:SYF) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 61.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,262 shares of the financial services provider's stock after acquiring an additional 5,055 shares during the period. Harvest Fund Management Co. Ltd's holdings in Synchrony Financial were worth $862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Apollon Wealth Management LLC lifted its holdings in Synchrony Financial by 2.3% during the fourth quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider's stock valued at $461,000 after purchasing an additional 160 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its stake in shares of Synchrony Financial by 1.9% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider's stock valued at $604,000 after buying an additional 176 shares in the last quarter. Smithfield Trust Co boosted its holdings in Synchrony Financial by 19.7% in the 4th quarter. Smithfield Trust Co now owns 1,099 shares of the financial services provider's stock worth $69,000 after buying an additional 181 shares during the period. Wedmont Private Capital increased its stake in Synchrony Financial by 2.6% in the 4th quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider's stock worth $491,000 after buying an additional 192 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Synchrony Financial by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,208 shares of the financial services provider's stock valued at $1,314,000 after acquiring an additional 213 shares during the period. 96.48% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $59.00 to $72.00 in a report on Monday, December 9th. Royal Bank of Canada increased their price objective on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a "sector perform" rating in a report on Wednesday, January 29th. Bank of America lifted their target price on Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods raised their price target on Synchrony Financial from $62.00 to $82.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $68.10.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock traded up $0.03 during midday trading on Tuesday, hitting $55.85. The company had a trading volume of 2,521,915 shares, compared to its average volume of 3,658,289. The stock has a market cap of $21.71 billion, a price-to-earnings ratio of 6.54, a PEG ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 12-month low of $39.67 and a 12-month high of $70.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The company has a fifty day simple moving average of $62.23 and a 200 day simple moving average of $60.41.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid 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 1.79%. Synchrony Financial's payout ratio is presently 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.