Rhumbline Advisers Sells 6,605 Shares of Synchrony Financial (NYSE:SYF)

Rhumbline Advisers decreased its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 868,926 shares of the financial services provider's stock after selling 6,605 shares during the period. Rhumbline Advisers owned 0.22% of Synchrony Financial worth $56,480,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC acquired a new position in Synchrony Financial during the fourth quarter valued at approximately $26,000. Larson Financial Group LLC boosted its holdings in shares of Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock worth $30,000 after buying an additional 292 shares during the period. Y.D. More Investments Ltd grew its stake in Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock valued at $31,000 after buying an additional 253 shares during the last quarter. Quarry LP grew its stake in Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider's stock valued at $45,000 after buying an additional 675 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Synchrony Financial in the 3rd quarter worth $50,000. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock traded down $1.80 during mid-day trading on Thursday, reaching $63.79. 3,465,552 shares of the stock were exchanged, compared to its average volume of 3,697,092. The company has a market cap of $24.80 billion, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 0.73 and a beta of 1.63. Synchrony Financial has a fifty-two week low of $39.35 and a fifty-two week high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The firm has a 50-day simple moving average of $66.79 and a 200 day simple moving average of $58.91.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders 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 1.57%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial's payout ratio is presently 11.71%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SYF shares. Wells Fargo & Company raised Synchrony Financial from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Morgan Stanley raised Synchrony Financial from an "underweight" rating to an "overweight" rating and lifted their price target for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. upgraded Synchrony Financial from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Truist Financial raised their price objective on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Finally, Bank of America upped their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.30.

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.