Synchrony Financial (NYSE:SYF) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co cut its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,003,830 shares of the financial services provider's stock after selling 124,570 shares during the period. CANADA LIFE ASSURANCE Co owned 0.26% of Synchrony Financial worth $65,217,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in shares of Synchrony Financial by 10.3% in the 4th quarter. NewEdge Advisors LLC now owns 7,623 shares of the financial services provider's stock valued at $496,000 after purchasing an additional 711 shares during the last quarter. Bridgewater Associates LP raised its holdings in Synchrony Financial by 258.0% in the 4th quarter. Bridgewater Associates LP now owns 586,678 shares of the financial services provider's stock valued at $38,134,000 after buying an additional 422,800 shares during the period. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Synchrony Financial in the fourth quarter valued at about $35,986,000. Canada Post Corp Registered Pension Plan purchased a new position in Synchrony Financial during the fourth quarter worth about $658,000. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter valued at about $532,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Trading Up 2.4 %

SYF opened at $47.86 on Friday. The business's 50-day simple moving average is $54.60 and its 200-day simple moving average is $60.27. The company has a market cap of $18.61 billion, a P/E ratio of 5.60, a PEG ratio of 0.71 and a beta of 1.45. Synchrony Financial has a one year low of $39.85 and a one year 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.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data 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%. As a group, equities research analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal 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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial's payout ratio is 11.71%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. The Goldman Sachs Group dropped their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Bank of America increased their target price on Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Barclays raised Synchrony Financial from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $59.00 to $79.00 in a research report on Monday, January 6th. Finally, Compass Point cut shares of Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price target on the stock. in a research report on Tuesday, January 28th. Eight investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $65.11.

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.

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