Nomura Asset Management Co. Ltd. Sells 15,914 Shares of Synchrony Financial (NYSE:SYF)

Nomura Asset Management Co. Ltd. cut its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 184,855 shares of the financial services provider's stock after selling 15,914 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Synchrony Financial were worth $12,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYF. Allianz Asset Management GmbH lifted its stake in shares of Synchrony Financial by 7.4% in the 4th quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider's stock worth $358,105,000 after purchasing an additional 380,870 shares during the period. Norges Bank bought a new position in Synchrony Financial in the fourth quarter worth approximately $347,903,000. Jacobs Levy Equity Management Inc. raised its position in Synchrony Financial by 3.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider's stock worth $221,830,000 after acquiring an additional 157,948 shares during the period. Nordea Investment Management AB boosted its stake in shares of Synchrony Financial by 18.5% during the 4th 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. Finally, Los Angeles Capital Management LLC grew its position in shares of Synchrony Financial by 16.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,943,817 shares of the financial services provider's stock valued at $126,348,000 after acquiring an additional 279,517 shares during the period. 96.48% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada raised their target price on Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a report on Wednesday, January 29th. UBS Group raised their price objective on Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. The Goldman Sachs Group cut 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. Truist Financial decreased 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, March 21st. Finally, Morgan Stanley upgraded shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Synchrony Financial has a consensus rating of "Moderate Buy" and a consensus target price of $68.10.

Synchrony Financial Price Performance

SYF traded up $1.85 during trading hours on Wednesday, hitting $55.11. The company's stock had a trading volume of 3,212,151 shares, compared to its average volume of 3,832,484. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The business's 50-day moving average price is $60.53 and its 200-day moving average price is $60.71. The stock has a market cap of $21.42 billion, a price-to-earnings ratio of 6.45, a P/E/G ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results 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%. Sell-side analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial's dividend payout ratio (DPR) is 11.71%.

Synchrony Financial 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.