Senator Investment Group LP Buys Shares of 380,000 Synchrony Financial (NYSE:SYF)

Senator Investment Group LP acquired a new stake in Synchrony Financial (NYSE:SYF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 380,000 shares of the financial services provider's stock, valued at approximately $24,700,000. Senator Investment Group LP owned 0.10% of Synchrony Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYF. Tower Research Capital LLC TRC increased its position in shares of Synchrony Financial by 132.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 41,529 shares of the financial services provider's stock worth $2,699,000 after purchasing an additional 23,669 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Synchrony Financial by 4.7% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 492,351 shares of the financial services provider's stock worth $32,003,000 after buying an additional 22,068 shares in the last quarter. MML Investors Services LLC grew its stake in Synchrony Financial by 68.5% in the fourth quarter. MML Investors Services LLC now owns 46,472 shares of the financial services provider's stock valued at $3,021,000 after acquiring an additional 18,890 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Synchrony Financial by 0.3% in the fourth quarter. MetLife Investment Management LLC now owns 103,038 shares of the financial services provider's stock valued at $6,697,000 after buying an additional 283 shares in the last quarter. Finally, Norinchukin Bank The raised its stake in shares of Synchrony Financial by 10.8% in the fourth quarter. Norinchukin Bank The now owns 18,662 shares of the financial services provider's stock worth $1,213,000 after purchasing an additional 1,823 shares during the last quarter. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Performance

Shares of NYSE:SYF traded up $2.02 during midday trading on Thursday, hitting $51.93. The stock had a trading volume of 4,406,464 shares, compared to its average volume of 3,950,065. 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 stock has a 50 day moving average price of $53.30 and a two-hundred day moving average price of $60.23. The company has a market capitalization of $20.19 billion, a PE ratio of 6.08, a P/E/G ratio of 0.71 and a beta of 1.45. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.26. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. As a group, equities analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, May 5th. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio is currently 11.71%.

Wall Street Analysts Forecast Growth

SYF has been the topic of several recent research reports. UBS Group upped their price objective on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a "neutral" rating in a report on Monday, January 13th. Evercore ISI reduced their price target on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday. Truist Financial decreased their price target on shares of Synchrony Financial from $77.00 to $65.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Morgan Stanley reaffirmed an "equal weight" rating and set a $44.00 price objective (down from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Finally, 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. Eight 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $64.37.

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.