Pictet Asset Management Holding SA Boosts Stock Position in Synchrony Financial (NYSE:SYF)

Pictet Asset Management Holding SA lifted its position in Synchrony Financial (NYSE:SYF - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 313,109 shares of the financial services provider's stock after buying an additional 36,021 shares during the period. Pictet Asset Management Holding SA owned about 0.08% of Synchrony Financial worth $20,352,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Synchrony Financial in the 3rd quarter worth $791,000. Townsquare Capital LLC bought a new stake in Synchrony Financial in the 3rd quarter worth about $245,000. Public Sector Pension Investment Board raised its position in Synchrony Financial by 3.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 70,248 shares of the financial services provider's stock worth $3,504,000 after buying an additional 2,200 shares during the last quarter. Verition Fund Management LLC lifted its stake in Synchrony Financial by 680.7% during the 3rd quarter. Verition Fund Management LLC now owns 33,961 shares of the financial services provider's stock valued at $1,694,000 after acquiring an additional 29,611 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Synchrony Financial during the 3rd quarter valued at about $5,460,000. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Price Performance

SYF traded down $2.80 on Friday, hitting $43.76. 9,503,831 shares of the company's stock traded hands, compared to its average volume of 3,871,908. The company's 50 day simple moving average is $59.21 and its 200-day simple moving average is $60.62. 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 $17.01 billion, a price-to-earnings ratio of 5.12, a P/E/G ratio of 0.71 and a beta of 1.67.

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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 Dividend Announcement

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 2.29%. 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

A number of brokerages recently weighed in on SYF. Keefe, Bruyette & Woods increased their price objective on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Bank of America raised their price target on Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Truist Financial reduced their price objective 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. Royal Bank of Canada raised their target price on Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley raised shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and upped their price target for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.26.

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.