Voya Investment Management LLC Trims Position in Synchrony Financial (NYSE:SYF)

Voya Investment Management LLC lowered its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 326,890 shares of the financial services provider's stock after selling 43,645 shares during the quarter. Voya Investment Management LLC owned approximately 0.08% of Synchrony Financial worth $21,248,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYF. Bogart Wealth LLC purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at $26,000. TCTC Holdings LLC purchased a new stake in Synchrony Financial in the 4th quarter valued at about $27,000. Y.D. More Investments Ltd increased its stake in shares of Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 253 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Synchrony Financial by 151.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock worth $52,000 after acquiring an additional 486 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Synchrony Financial by 46.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock worth $53,000 after acquiring an additional 257 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Stock Down 1.0 %

Shares of Synchrony Financial stock opened at $51.42 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $70.93. The business has a 50-day moving average of $52.76 and a 200-day moving average of $60.29. The company has a market capitalization of $19.99 billion, a PE ratio of 6.02, a P/E/G ratio of 0.71 and a beta of 1.45.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. As a group, equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, May 5th. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's payout ratio is 11.71%.

Analysts Set New Price Targets

SYF has been the topic of a number of recent analyst reports. Cfra Research raised shares of Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. StockNews.com lowered Synchrony Financial from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Morgan Stanley reissued an "equal weight" rating and set a $44.00 price target (down previously from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Truist Financial cut their price objective on Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. decreased their target price on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.95.

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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