Federated Hermes Inc. Purchases 58,558 Shares of Synchrony Financial (NYSE:SYF)

Federated Hermes Inc. increased its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 233.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,644 shares of the financial services provider's stock after purchasing an additional 58,558 shares during the period. Federated Hermes Inc.'s holdings in Synchrony Financial were worth $5,437,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bogart Wealth LLC bought a new stake in shares of Synchrony Financial in the 4th quarter valued at $26,000. TCTC Holdings LLC acquired a new position in shares of Synchrony Financial during the fourth quarter valued at about $27,000. Y.D. More Investments Ltd boosted its position in shares of Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock worth $31,000 after purchasing an additional 253 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock valued at $52,000 after buying an additional 486 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Synchrony Financial by 46.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock valued at $53,000 after buying an additional 257 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Stock Performance

NYSE:SYF traded up $0.55 during trading hours on Tuesday, reaching $47.51. The stock had a trading volume of 3,858,544 shares, compared to its average volume of 3,963,082. The stock has a 50 day simple moving average of $55.78 and a 200 day simple moving average of $60.47. Synchrony Financial has a 12-month low of $39.67 and a 12-month high of $70.93. The stock has a market cap of $18.47 billion, a P/E ratio of 5.56, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24.

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Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping 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, research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. Synchrony Financial's payout ratio is 11.71%.

Analyst Ratings Changes

A number of brokerages have commented on SYF. Royal Bank of Canada raised their price objective on Synchrony Financial from $70.00 to $73.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 29th. UBS Group lifted their price target on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. JPMorgan Chase & Co. lowered their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reduced their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Finally, Barclays upgraded shares of 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. 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. According to MarketBeat, Synchrony Financial has an average rating of "Moderate Buy" and a consensus price target of $65.11.

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.