Synchrony Financial (NYSE:SYF) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its stake in Synchrony Financial (NYSE:SYF - Free Report) by 68.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 89,936 shares of the financial services provider's stock after acquiring an additional 36,588 shares during the period. Meeder Asset Management Inc.'s holdings in Synchrony Financial were worth $5,846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock worth $30,000 after acquiring an additional 292 shares during the period. Quantbot Technologies LP bought a new position in Synchrony Financial during the 3rd quarter worth approximately $791,000. Townsquare Capital LLC acquired a new stake in Synchrony Financial during the third quarter worth approximately $245,000. Public Sector Pension Investment Board raised its holdings in shares of Synchrony Financial by 3.2% during the third quarter. Public Sector Pension Investment Board now owns 70,248 shares of the financial services provider's stock valued at $3,504,000 after purchasing an additional 2,200 shares during the period. Finally, Martingale Asset Management L P increased its stake in Synchrony Financial by 65.8% during the 3rd quarter. Martingale Asset Management L P now owns 44,216 shares of the financial services provider's stock valued at $2,205,000 after purchasing an additional 17,548 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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Synchrony Financial Stock Performance

Shares of SYF traded down $8.51 during mid-day trading on Thursday, reaching $46.54. The company had a trading volume of 9,085,169 shares, compared to its average volume of 3,850,931. The stock has a market capitalization of $18.09 billion, a P/E ratio of 5.44, a PEG ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. The stock has a 50 day moving average of $60.22 and a two-hundred day moving average of $60.67. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

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

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. Synchrony Financial's dividend payout ratio is currently 11.71%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SYF shares. Truist Financial decreased their target price on Synchrony Financial from $77.00 to $65.00 and set a "hold" rating for the company in a research report on Friday, March 21st. StockNews.com cut Synchrony Financial from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Morgan Stanley raised shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and upped their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Compass Point downgraded shares of Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price target for the company. in a report on Tuesday, January 28th. Finally, Barclays upgraded Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Synchrony Financial currently has a consensus rating of "Moderate Buy" and an average price target of $67.35.

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.