KLP Kapitalforvaltning AS Makes New Investment in Synchrony Financial (NYSE:SYF)

KLP Kapitalforvaltning AS purchased a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 151,310 shares of the financial services provider's stock, valued at approximately $9,835,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYF. New Wave Wealth Advisors LLC purchased a new position in shares of Synchrony Financial in the 4th quarter valued at approximately $452,000. National Bank of Canada FI increased its holdings in Synchrony Financial by 119.0% in the third quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider's stock valued at $12,123,000 after buying an additional 132,047 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Synchrony Financial by 7.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider's stock worth $11,787,000 after acquiring an additional 12,492 shares in the last quarter. Brophy Wealth Management LLC acquired a new stake in shares of Synchrony Financial in the 3rd quarter worth approximately $544,000. Finally, Summit Trail Advisors LLC purchased a new position in Synchrony Financial in the 4th quarter valued at approximately $423,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Performance

Shares of SYF stock traded down $0.98 on Thursday, hitting $54.22. 707,031 shares of the stock traded hands, compared to its average volume of 3,625,410. The company has a market capitalization of $21.08 billion, a PE ratio of 6.35, a PEG ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 1-year low of $39.67 and a 1-year high of $70.93. The company's fifty day moving average is $61.77 and its 200 day moving average is $60.43. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24.

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Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial's dividend payout ratio (DPR) is presently 11.71%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America lifted their price target on Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. UBS Group upped their target price on Synchrony Financial from $58.00 to $66.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Wells Fargo & Company upgraded Synchrony Financial from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Morgan Stanley raised shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and boosted their price objective for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. Finally, Royal Bank of Canada increased their target price on Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.10.

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.