Sciencast Management LP Buys 14,732 Shares of Synchrony Financial (NYSE:SYF)

Sciencast Management LP boosted its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 54.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,856 shares of the financial services provider's stock after buying an additional 14,732 shares during the quarter. Sciencast Management LP's holdings in Synchrony Financial were worth $2,721,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in shares of Synchrony Financial during the fourth quarter valued at about $452,000. National Bank of Canada FI raised its position in Synchrony Financial by 119.0% during the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider's stock valued at $12,123,000 after purchasing an additional 132,047 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Synchrony Financial by 7.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider's stock valued at $11,787,000 after purchasing an additional 12,492 shares during the last quarter. Brophy Wealth Management LLC purchased a new stake in Synchrony Financial in the 3rd quarter worth approximately $544,000. Finally, Summit Trail Advisors LLC bought a new stake in shares of Synchrony Financial in the 4th quarter worth approximately $423,000. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Up 0.1 %

Shares of SYF traded up $0.03 during trading hours on Tuesday, hitting $55.85. The company had a trading volume of 2,521,915 shares, compared to its average volume of 3,641,711. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. The firm has a fifty day moving average price of $62.03 and a 200-day moving average price of $60.47. The stock has a market capitalization of $21.71 billion, a price-to-earnings ratio of 6.54, a P/E/G ratio of 0.71 and a beta of 1.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24.

Remove Ads

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 (EPS) 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, equities research analysts forecast 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. Shareholders of record on Monday, February 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.79%. Synchrony Financial's dividend payout ratio is 11.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYF. Bank of America upped their target price on Synchrony Financial from $82.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. The Goldman Sachs Group decreased 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. Truist Financial cut their target price on shares of Synchrony Financial from $77.00 to $65.00 and set a "hold" rating on the stock in a research note on Friday. StockNews.com downgraded shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research note on Monday. Finally, JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Synchrony Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.10.

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.