Mirae Asset Global Investments Co. Ltd. Acquires 6,872 Shares of Synchrony Financial (NYSE:SYF)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,992 shares of the financial services provider's stock after acquiring an additional 6,872 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Synchrony Financial were worth $3,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Pension Service increased its position in shares of Synchrony Financial by 22.7% during the third quarter. National Pension Service now owns 957,758 shares of the financial services provider's stock valued at $47,773,000 after acquiring an additional 177,051 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Synchrony Financial during the fourth quarter valued at approximately $452,000. National Bank of Canada FI increased its position in shares of Synchrony Financial by 119.0% during 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 acquiring an additional 132,047 shares in the last quarter. Brophy Wealth Management LLC bought a new stake in shares of Synchrony Financial during the third quarter valued at approximately $544,000. Finally, Principal Financial Group Inc. increased its position in shares of Synchrony Financial by 2.2% during the third quarter. Principal Financial Group Inc. now owns 487,720 shares of the financial services provider's stock valued at $24,327,000 after acquiring an additional 10,294 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Price Performance

Shares of SYF stock traded down $1.25 on Wednesday, hitting $63.98. 5,333,454 shares of the stock traded hands, compared to its average volume of 3,723,833. The firm has a market cap of $24.91 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 0.72 and a beta of 1.63. Synchrony Financial has a 52 week low of $38.25 and a 52 week high of $70.93. The firm has a 50 day simple moving average of $67.10 and a two-hundred day simple moving average of $58.31. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating the consensus estimate 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, equities research analysts predict that Synchrony Financial will post 7.45 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.56%. Synchrony Financial's payout ratio is 11.71%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SYF shares. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Royal Bank of Canada raised their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a report on Wednesday, January 29th. Morgan Stanley upgraded shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and raised their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Bank of America raised their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Finally, Compass Point cut shares of Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 target price on the stock. in a report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.30.

Insider Activity

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company's stock.

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.