Quantbot Technologies LP purchased a new stake in Synchrony Financial (NYSE:SYF – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 90,983 shares of the financial services provider’s stock, valued at approximately $6,919,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYF. FWL Investment Management LLC purchased a new stake in shares of Synchrony Financial during the third quarter worth approximately $26,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Synchrony Financial during the fourth quarter worth $29,000. Advisors Asset Management Inc. purchased a new position in Synchrony Financial in the 4th quarter valued at $29,000. Palisade Asset Management LLC purchased a new position in Synchrony Financial in the 3rd quarter valued at $29,000. Finally, Reflection Asset Management acquired a new position in Synchrony Financial in the 4th quarter valued at $31,000. 96.48% of the stock is owned by hedge funds and other institutional investors.
Synchrony Financial Price Performance
Synchrony Financial stock opened at $79.53 on Friday. Synchrony Financial has a 52 week low of $63.08 and a 52 week high of $88.77. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.08. The firm’s 50-day simple moving average is $76.16 and its 200 day simple moving average is $72.92. The firm has a market capitalization of $25.88 billion, a PE ratio of 8.15, a P/E/G ratio of 0.73 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 paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.36 annualized dividend and a dividend yield of 1.7%. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.30. Synchrony Financial’s dividend payout ratio is presently 13.93%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on SYF shares. HSBC raised their target price on shares of Synchrony Financial from $93.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. UBS Group boosted their price target on shares of Synchrony Financial from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Wells Fargo & Company cut their price target on shares of Synchrony Financial from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Royal Bank Of Canada reduced their price objective on shares of Synchrony Financial from $85.00 to $80.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 22nd. Finally, TD Cowen lifted their price objective on Synchrony Financial from $89.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.89.
Synchrony Financial Company Profile
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.
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