Northwestern Mutual Wealth Management Co. boosted its holdings in Synchrony Financial (NYSE:SYF – Free Report) by 18.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,517 shares of the financial services provider’s stock after purchasing an additional 11,281 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Synchrony Financial were worth $5,439,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of Synchrony Financial by 8.9% in the 1st quarter. NewEdge Advisors LLC now owns 8,302 shares of the financial services provider’s stock worth $439,000 after buying an additional 679 shares during the last quarter. Woodline Partners LP increased its stake in Synchrony Financial by 36.2% during the 1st quarter. Woodline Partners LP now owns 35,582 shares of the financial services provider’s stock valued at $1,884,000 after purchasing an additional 9,460 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Synchrony Financial by 7.7% during the first quarter. Focus Partners Wealth now owns 6,406 shares of the financial services provider’s stock valued at $339,000 after buying an additional 459 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Synchrony Financial by 337.0% during the first quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 455 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its position in shares of Synchrony Financial by 56.1% during the second quarter. Sivia Capital Partners LLC now owns 6,062 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 2,178 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.
Synchrony Financial Stock Performance
SYF stock opened at $79.85 on Friday. The company has a market cap of $25.98 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 0.72 and a beta of 1.32. Synchrony Financial has a 1 year low of $63.08 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s fifty day moving average price is $76.77 and its 200-day moving average price is $73.27.
Synchrony Financial Increases Dividend
The firm 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. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, August 5th. This represents a $1.36 annualized dividend and a dividend yield of 1.7%. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.93%.
Analyst Upgrades and Downgrades
Several analysts have commented on SYF shares. Loop Capital assumed coverage on Synchrony Financial in a research note on Friday, May 22nd. They set a “hold” rating and a $81.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a report on Friday, July 17th. JPMorgan Chase & Co. reduced their price objective on Synchrony Financial from $81.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Royal Bank Of Canada decreased their target price on 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 upped their target price on shares of Synchrony Financial from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and an average target price of $87.78.
Check Out Our Latest Report on SYF
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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