2,197,500 Shares in Synchrony Financial (NYSE:SYF) Purchased by Sachem Head Capital Management LP

Sachem Head Capital Management LP acquired a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,197,500 shares of the financial services provider's stock, valued at approximately $142,838,000. Synchrony Financial makes up about 7.9% of Sachem Head Capital Management LP's portfolio, making the stock its 5th largest position. Sachem Head Capital Management LP owned approximately 0.56% of Synchrony Financial at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Bogart Wealth LLC bought a new position in shares of Synchrony Financial in the fourth quarter worth approximately $26,000. TCTC Holdings LLC bought a new position in shares of Synchrony Financial in the fourth quarter worth approximately $27,000. Y.D. More Investments Ltd lifted its stake in shares of Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock worth $31,000 after buying an additional 253 shares in the last quarter. Accredited Wealth Management LLC bought a new position in shares of Synchrony Financial in the fourth quarter worth approximately $38,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock worth $52,000 after buying an additional 486 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SYF shares. Morgan Stanley restated an "equal weight" rating and set a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Compass Point downgraded shares of Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price objective on the stock. in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price target on shares of Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $63.95.

Synchrony Financial Stock Up 0.6%

Shares of NYSE:SYF opened at $60.88 on Friday. The firm's 50 day moving average price is $52.10 and its 200 day moving average price is $60.35. The stock has a market cap of $23.17 billion, a price-to-earnings ratio of 7.13, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. Synchrony Financial has a fifty-two week low of $40.55 and a fifty-two week high of $70.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

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, topping the consensus estimate of $1.63 by $0.26. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, equities research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.97%. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial's dividend payout ratio (DPR) is 16.46%.

Synchrony Financial 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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