Dark Forest Capital Management LP Has $651,000 Holdings in Synchrony Financial (NYSE:SYF)

Dark Forest Capital Management LP raised its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 102.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,021 shares of the financial services provider's stock after purchasing an additional 5,074 shares during the quarter. Dark Forest Capital Management LP's holdings in Synchrony Financial were worth $651,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Bogart Wealth LLC acquired a new stake in Synchrony Financial during the fourth quarter worth about $26,000. TCTC Holdings LLC bought a new position in Synchrony Financial in the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd grew 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 purchasing an additional 253 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Synchrony Financial by 151.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 486 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Synchrony Financial by 46.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock worth $53,000 after purchasing an additional 257 shares during the period. Institutional investors and hedge funds own 96.48% of the company's stock.

Synchrony Financial Price Performance

Shares of SYF traded up $0.48 during mid-day trading on Thursday, reaching $52.43. The company had a trading volume of 943,855 shares, compared to its average volume of 3,946,489. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The company's 50-day moving average is $52.08 and its 200-day moving average is $60.23. Synchrony Financial has a twelve month low of $40.55 and a twelve month high of $70.93. The company has a market capitalization of $20.38 billion, a P/E ratio of 6.14, a P/E/G ratio of 0.71 and a beta of 1.45.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted 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 company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, May 5th. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's payout ratio is 16.46%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Compass Point lowered 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. Cfra Research raised Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Truist Financial lowered their price target on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a report on Friday, April 25th. Morgan Stanley reissued an "equal weight" rating and issued a $44.00 price target (down previously from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.95.

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.