Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Synchrony Financial (NYSE:SYF – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 820,797 shares of the financial services provider’s stock, valued at approximately $62,422,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.25% of Synchrony Financial as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. KTF Investments LLC purchased a new position in shares of Synchrony Financial during the 4th quarter valued at about $3,923,000. Assenagon Asset Management S.A. lifted its holdings in Synchrony Financial by 959.4% during the first quarter. Assenagon Asset Management S.A. now owns 545,880 shares of the financial services provider’s stock valued at $37,131,000 after purchasing an additional 494,354 shares in the last quarter. Jefferies Financial Group Inc. lifted its holdings in Synchrony Financial by 701.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 120,996 shares of the financial services provider’s stock valued at $10,095,000 after purchasing an additional 105,907 shares in the last quarter. Forsta AP Fonden boosted its position in shares of Synchrony Financial by 7.7% in the fourth quarter. Forsta AP Fonden now owns 228,900 shares of the financial services provider’s stock worth $19,097,000 after purchasing an additional 16,400 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Synchrony Financial in the fourth quarter worth $84,494,000. Institutional investors own 96.48% of the company’s stock.
Synchrony Financial Price Performance
SYF stock opened at $79.64 on Thursday. Synchrony Financial has a one year low of $63.08 and a one year high of $88.77. The company’s fifty day moving average price is $75.95 and its 200-day moving average price is $72.85. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $25.91 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 0.74 and a beta of 1.32.
Synchrony Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, August 5th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, August 5th. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. Synchrony Financial’s dividend payout ratio (DPR) is 13.93%.
Analyst Ratings Changes
Several analysts have recently commented on SYF shares. Barclays raised their price objective on shares of Synchrony Financial from $82.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Truist Financial raised their price target on Synchrony Financial from $71.00 to $82.00 and gave the company a “hold” rating in a report on Thursday, April 23rd. Royal Bank Of Canada lowered their price objective on Synchrony Financial from $85.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 22nd. Robert W. Baird upped their price objective on Synchrony Financial from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a research note on Friday, July 17th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.89.
Check Out Our Latest Stock Analysis on SYF
About Synchrony Financial
Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.
Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.
Further Reading
- Five stocks we like better than Synchrony Financial
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF – Free Report).
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.
