Resona Asset Management Co. Ltd. Invests $7.84 Million in Synchrony Financial (NYSE:SYF)

Resona Asset Management Co. Ltd. purchased a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 120,329 shares of the financial services provider's stock, valued at approximately $7,838,000.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in shares of Synchrony Financial in the 4th quarter valued at $347,903,000. Nordea Investment Management AB increased its position in Synchrony Financial by 18.5% during the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider's stock worth $200,756,000 after purchasing an additional 481,750 shares in the last quarter. Candriam S.C.A. increased its position in Synchrony Financial by 231.3% during the 4th quarter. Candriam S.C.A. now owns 559,510 shares of the financial services provider's stock worth $36,368,000 after purchasing an additional 390,602 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Synchrony Financial by 7.4% in the 4th quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider's stock valued at $358,105,000 after purchasing an additional 380,870 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Synchrony Financial during the fourth quarter worth $24,185,000. Institutional investors own 96.48% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SYF shares. Barclays raised 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 report on Monday, January 6th. Royal Bank of Canada lifted their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 29th. StockNews.com cut shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Bank of America lifted their price target 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, The Goldman Sachs Group decreased their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.11.

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Synchrony Financial Stock Down 1.1 %

Synchrony Financial stock traded down $0.53 during mid-day trading on Friday, reaching $46.10. The stock had a trading volume of 6,550,656 shares, compared to its average volume of 3,962,976. The firm has a market capitalization of $17.92 billion, a PE ratio of 5.40, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93. The stock's 50-day simple moving average is $56.20 and its 200-day simple moving average is $60.49. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, sell-side analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial's dividend payout ratio (DPR) is presently 11.71%.

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.