Mariner LLC Purchases 10,705 Shares of Synchrony Financial (NYSE:SYF)

Mariner LLC increased its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,643 shares of the financial services provider's stock after acquiring an additional 10,705 shares during the quarter. Mariner LLC's holdings in Synchrony Financial were worth $7,322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Synchrony Financial in the 4th quarter valued at approximately $452,000. Asset Management One Co. Ltd. lifted its holdings in 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 buying an additional 12,492 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Synchrony Financial during the 4th quarter worth about $57,000. Summit Trail Advisors LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter worth about $423,000. Finally, NEOS Investment Management LLC increased its position in shares of Synchrony Financial by 31.4% during the fourth quarter. NEOS Investment Management LLC now owns 25,622 shares of the financial services provider's stock worth $1,665,000 after purchasing an additional 6,120 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Trading Up 3.8 %

NYSE:SYF traded up $1.92 during mid-day trading on Thursday, hitting $51.83. 1,436,835 shares of the company's stock were exchanged, compared to its average volume of 3,962,511. 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 fifty-two week low of $40.55 and a fifty-two week high of $70.93. The company has a 50 day simple moving average of $53.30 and a 200-day simple moving average of $60.23. The firm has a market capitalization of $20.15 billion, a P/E ratio of 6.07, a PEG ratio of 0.71 and a beta of 1.45.

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

Synchrony Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, May 5th. Synchrony Financial's payout ratio is currently 11.71%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SYF shares. The Goldman Sachs Group dropped their target price on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. 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 note on Wednesday, January 29th. Morgan Stanley reissued an "equal weight" rating and set a $44.00 price target (down from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Wells Fargo & Company cut their target price on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Bank of America upped their price objective on Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Eight research 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $64.37.

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.