Synchrony Financial (NYSE:SYF) Position Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Synchrony Financial (NYSE:SYF - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,152 shares of the financial services provider's stock after selling 22,302 shares during the period. New York State Teachers Retirement System owned 0.11% of Synchrony Financial worth $28,545,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Southpoint Capital Advisors LP increased its stake in Synchrony Financial by 37.9% during the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider's stock valued at $229,448,000 after purchasing an additional 1,265,000 shares during the last quarter. Zurich Insurance Group Ltd FI increased its stake in Synchrony Financial by 389.8% during 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 last quarter. Soros Fund Management LLC bought a new position in shares of Synchrony Financial during the third quarter worth about $41,088,000. Assenagon Asset Management S.A. grew its position in shares of Synchrony Financial by 589.3% during the third quarter. Assenagon Asset Management S.A. now owns 644,203 shares of the financial services provider's stock worth $32,133,000 after acquiring an additional 550,750 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of 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 acquiring an additional 481,750 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Price Performance

NYSE SYF traded up $0.30 on Wednesday, reaching $65.59. The company's stock had a trading volume of 5,656,817 shares, compared to its average volume of 3,703,025. Synchrony Financial has a twelve month low of $39.26 and a twelve month high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $25.50 billion, a PE ratio of 7.68, a PEG ratio of 0.73 and a beta of 1.63. The firm's 50 day moving average is $66.84 and its two-hundred day moving average is $58.86.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data 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%. As a group, sell-side analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Monday, February 3rd. Synchrony Financial's dividend payout ratio is presently 11.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYF. The Goldman Sachs Group upped their price target on shares of Synchrony Financial from $72.50 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Truist Financial upped their price target on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Barclays upgraded shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Compass Point lowered shares of Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price target for the company. in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a "neutral" rating to an "overweight" rating and increased their target price for the company from $59.00 to $72.00 in a research report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $69.30.

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.