AustralianSuper Pty Ltd Trims Holdings in Synchrony Financial (NYSE:SYF)

AustralianSuper Pty Ltd cut its position in Synchrony Financial (NYSE:SYF - Free Report) by 18.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,405,833 shares of the financial services provider's stock after selling 555,244 shares during the period. AustralianSuper Pty Ltd owned approximately 0.62% of Synchrony Financial worth $156,379,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bogart Wealth LLC acquired a new position in shares of Synchrony Financial in the fourth quarter valued at about $26,000. Y.D. More Investments Ltd increased its holdings in shares of Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 253 shares during the period. Larson Financial Group LLC increased its holdings in shares of Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 292 shares during the period. Raleigh Capital Management Inc. increased its holdings in shares of Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 486 shares during the period. Finally, Quarry LP increased its holdings in shares of Synchrony Financial by 301.3% in the third quarter. Quarry LP now owns 899 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 675 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised Synchrony Financial from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Compass Point lowered Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 target price on the stock. in a report on Tuesday, January 28th. The Goldman Sachs Group raised their target price on Synchrony Financial from $72.50 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Truist Financial raised their target price on Synchrony Financial from $72.00 to $77.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Finally, Evercore ISI raised their target price on Synchrony Financial from $58.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Synchrony Financial presently has an average rating of "Moderate Buy" and a consensus target price of $69.30.

Synchrony Financial Price Performance

Shares of NYSE SYF traded down $0.01 during midday trading on Tuesday, hitting $65.20. The stock had a trading volume of 2,854,823 shares, compared to its average volume of 3,639,991. The company has a market capitalization of $25.39 billion, a PE ratio of 7.64, a P/E/G ratio of 0.72 and a beta of 1.63. The stock has a 50 day simple moving average of $66.88 and a 200-day simple moving average of $58.72. Synchrony Financial has a 1 year low of $39.26 and a 1 year high of $70.93. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. On average, sell-side analysts expect that Synchrony Financial will post 7.45 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. Synchrony Financial's dividend payout ratio (DPR) is presently 11.71%.

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.