MML Investors Services LLC Purchases 18,890 Shares of Synchrony Financial (NYSE:SYF)

MML Investors Services LLC increased its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 68.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,472 shares of the financial services provider's stock after purchasing an additional 18,890 shares during the period. MML Investors Services LLC's holdings in Synchrony Financial were worth $3,021,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. New Wave Wealth Advisors LLC bought a new stake in shares of Synchrony Financial in the 4th quarter worth about $452,000. Asset Management One Co. Ltd. increased its stake in Synchrony Financial by 7.5% during the fourth 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 during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Synchrony Financial during the fourth quarter valued at approximately $57,000. Summit Trail Advisors LLC bought a new stake in shares of Synchrony Financial in the 4th quarter valued at approximately $423,000. Finally, NEOS Investment Management LLC boosted its holdings in shares of Synchrony Financial by 31.4% in the 4th 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 during the period. Hedge funds and other institutional investors own 96.48% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SYF. Evercore ISI lowered their price target on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial dropped their price target on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating for the company in a research note on Friday. The Goldman Sachs Group reduced their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Bank of America boosted their target price on Synchrony Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada increased their price target on Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a report on Wednesday, January 29th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $63.95.

Synchrony Financial Stock Down 1.0 %

Shares of Synchrony Financial stock opened at $51.42 on Monday. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $70.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $19.99 billion, a price-to-earnings ratio of 6.02, a PEG ratio of 0.71 and a beta of 1.45. The firm's 50-day moving average is $52.76 and its two-hundred day moving average is $60.35.

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

Synchrony Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.33%. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio (DPR) is presently 16.46%.

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.

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