Wealthfront Advisers LLC Sells 69,023 Shares of Synchrony Financial (NYSE:SYF)

Wealthfront Advisers LLC reduced its stake in Synchrony Financial (NYSE:SYF - Free Report) by 86.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,449 shares of the financial services provider's stock after selling 69,023 shares during the period. Wealthfront Advisers LLC's holdings in Synchrony Financial were worth $679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Citizens Financial Group Inc. RI boosted its stake in shares of Synchrony Financial by 6.5% in the 4th quarter. Citizens Financial Group Inc. RI now owns 4,624 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 282 shares in the last quarter. Sage Mountain Advisors LLC acquired a new stake in shares of Synchrony Financial in the 4th quarter valued at approximately $231,000. Vista Investment Partners II LLC acquired a new stake in shares of Synchrony Financial in the 4th quarter valued at approximately $3,356,000. Independent Advisor Alliance boosted its stake in shares of Synchrony Financial by 12.8% in the 4th quarter. Independent Advisor Alliance now owns 14,410 shares of the financial services provider's stock valued at $937,000 after purchasing an additional 1,633 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Synchrony Financial by 2.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 66,715 shares of the financial services provider's stock valued at $4,337,000 after purchasing an additional 1,778 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SYF shares. Compass Point lowered shares of Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price objective for the company. in a report on Tuesday, January 28th. Truist Financial raised their price objective on shares of Synchrony Financial from $72.00 to $77.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods raised their price objective on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Morgan Stanley upgraded shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.70.

Synchrony Financial Stock Down 1.2 %

SYF traded down $0.68 during mid-day trading on Thursday, reaching $53.85. 4,197,137 shares of the stock were exchanged, compared to its average volume of 3,658,122. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $20.93 billion, a PE ratio of 6.31, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The company has a 50 day moving average price of $62.85 and a two-hundred day moving average price of $60.22. Synchrony Financial has a 1 year low of $39.67 and a 1 year high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. As a group, research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Monday, February 3rd. Synchrony Financial's payout ratio is 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.