Synchrony Financial (NYSE:SYF) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in Synchrony Financial (NYSE:SYF - Free Report) by 10.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,330,396 shares of the financial services provider's stock after purchasing an additional 121,112 shares during the quarter. Russell Investments Group Ltd. owned about 0.34% of Synchrony Financial worth $86,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at $347,903,000. Zurich Insurance Group Ltd FI grew its holdings in Synchrony Financial by 389.8% in the third quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider's stock valued at $56,797,000 after purchasing an additional 906,172 shares during the period. Nordea Investment Management AB increased its position in Synchrony Financial by 18.5% during 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 purchasing an additional 481,750 shares during the last quarter. Candriam S.C.A. raised its stake in Synchrony Financial by 231.3% during the fourth 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 during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of 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. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

SYF has been the topic of several research reports. Royal Bank of Canada increased 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. The Goldman Sachs Group reduced their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Wells Fargo & Company dropped their target price on shares of Synchrony Financial from $85.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Compass Point lowered shares of Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price objective for the company. in a research report on Tuesday, January 28th. Finally, Barclays raised shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $59.00 to $79.00 in a research note on Monday, January 6th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.11.

Synchrony Financial Stock Performance

Synchrony Financial stock traded down $1.31 during mid-day trading on Friday, reaching $45.32. The company's stock had a trading volume of 2,786,722 shares, compared to its average volume of 3,940,409. The firm has a market cap of $17.62 billion, a price-to-earnings ratio of 5.30, a PEG ratio of 0.71 and a beta of 1.45. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93. The business has a 50 day moving average price of $56.59 and a 200-day moving average price of $60.42. 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 (NYSE:SYF - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share 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%. Sell-side analysts predict 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. Investors of record on Monday, February 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. Synchrony Financial's dividend payout ratio is currently 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.