Tocqueville Asset Management L.P. Buys New Shares in Synchrony Financial (NYSE:SYF)

Tocqueville Asset Management L.P. acquired a new stake in Synchrony Financial (NYSE:SYF - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,857 shares of the financial services provider's stock, valued at approximately $316,000.

A number of other large investors also recently modified their holdings of SYF. Bogart Wealth LLC purchased a new position in shares of Synchrony Financial in the 4th quarter valued at $26,000. TCTC Holdings LLC purchased a new position in shares of Synchrony Financial during the fourth quarter worth about $27,000. Larson Financial Group LLC increased its position in shares of Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock worth $30,000 after purchasing an additional 292 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Synchrony Financial by 111.5% in the 4th 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 last quarter. Finally, Quarry LP boosted its position in shares of Synchrony Financial by 301.3% in the 3rd 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 hedge funds and other institutional investors.

Synchrony Financial Trading Up 0.1 %

Shares of Synchrony Financial stock traded up $0.03 during mid-day trading on Tuesday, hitting $55.85. 2,521,905 shares of the stock were exchanged, compared to its average volume of 3,658,289. The company has a 50-day simple moving average of $62.23 and a 200 day simple moving average of $60.41. 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 stock has a market capitalization of $21.71 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93.

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

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.79%. Synchrony Financial's payout ratio is currently 11.71%.

Analyst Ratings Changes

Several research firms have recently weighed in on SYF. Bank of America raised their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Royal Bank of Canada raised their price objective on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 29th. Truist Financial reduced their target price on shares of Synchrony Financial from $77.00 to $65.00 and set a "hold" rating for the company in a report on Friday. Morgan Stanley upgraded Synchrony Financial from an "underweight" rating to an "overweight" rating and lifted their target price for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. Finally, Wells Fargo & Company upgraded shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.10.

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.