NEOS Investment Management LLC Boosts Stock Position in Synchrony Financial (NYSE:SYF)

NEOS Investment Management LLC increased its stake in Synchrony Financial (NYSE:SYF - Free Report) by 31.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,622 shares of the financial services provider's stock after buying an additional 6,120 shares during the period. NEOS Investment Management LLC's holdings in Synchrony Financial were worth $1,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its stake in shares of Synchrony Financial by 7.4% in the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider's stock worth $358,105,000 after acquiring an additional 380,870 shares during the last quarter. Southpoint Capital Advisors LP grew its position in Synchrony Financial by 37.9% during the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider's stock valued at $229,448,000 after purchasing an additional 1,265,000 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Synchrony Financial by 3.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider's stock valued at $221,830,000 after purchasing an additional 157,948 shares in the last quarter. Nordea Investment Management AB raised its holdings in Synchrony Financial by 18.5% in the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider's stock worth $200,756,000 after buying an additional 481,750 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Synchrony Financial by 16.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,943,817 shares of the financial services provider's stock worth $126,348,000 after buying an additional 279,517 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

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Synchrony Financial Price Performance

SYF traded up $1.78 on Wednesday, hitting $55.04. 1,842,205 shares of the company's stock traded hands, compared to its average volume of 3,827,903. The company's 50 day simple moving average is $60.53 and its 200-day simple moving average is $60.71. 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 one year low of $39.67 and a one year high of $70.93. The firm has a market cap of $21.40 billion, a price-to-earnings ratio of 6.44, a P/E/G ratio of 0.71 and a beta of 1.67.

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

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial's dividend payout ratio (DPR) is presently 11.71%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SYF. Compass Point cut Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price objective on the stock. in a research report on Tuesday, January 28th. Bank of America lifted their price objective on Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods upped their target price on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Royal Bank of Canada lifted their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group decreased their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $68.10.

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.