iA Global Asset Management Inc. Has $2.79 Million Stock Holdings in Synchrony Financial (NYSE:SYF)

iA Global Asset Management Inc. cut its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 19.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,859 shares of the financial services provider's stock after selling 10,481 shares during the period. iA Global Asset Management Inc.'s holdings in Synchrony Financial were worth $2,786,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Allianz Asset Management GmbH lifted its holdings in shares of Synchrony Financial by 7.4% in the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider's stock valued at $358,105,000 after purchasing an additional 380,870 shares in the last quarter. Southpoint Capital Advisors LP lifted its stake 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 acquiring an additional 1,265,000 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Synchrony Financial by 3.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider's stock valued at $221,830,000 after acquiring an additional 157,948 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Synchrony Financial by 18.5% in the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider's stock worth $200,756,000 after purchasing an additional 481,750 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Synchrony Financial by 16.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,943,817 shares of the financial services provider's stock worth $126,348,000 after purchasing an additional 279,517 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SYF shares. StockNews.com lowered shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research note on Monday. Royal Bank of Canada lifted their price objective on Synchrony Financial from $70.00 to $73.00 and gave the company a "sector perform" rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their target price on Synchrony Financial from $62.00 to $82.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. UBS Group lifted their price target on Synchrony Financial from $58.00 to $66.00 and gave the company a "neutral" rating in a report on Monday, January 13th. Finally, Morgan Stanley raised shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and raised their price objective for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.10.

Synchrony Financial Price Performance

Shares of NYSE:SYF traded up $0.03 during trading on Tuesday, reaching $55.85. The stock had a trading volume of 2,521,915 shares, compared to its average volume of 3,658,289. The stock has a market capitalization of $21.71 billion, a PE ratio of 6.54, a P/E/G ratio of 0.71 and a beta of 1.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a 52 week low of $39.67 and a 52 week high of $70.93. The business's 50-day moving average price is $62.23 and its 200 day moving average price is $60.41.

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

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial's dividend payout ratio is currently 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.