MML Investors Services LLC Raises Stock Holdings in Synchrony Financial (NYSE:SYF)

MML Investors Services LLC increased its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 68.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,472 shares of the financial services provider's stock after buying an additional 18,890 shares during the quarter. MML Investors Services LLC's holdings in Synchrony Financial were worth $3,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bogart Wealth LLC bought a new stake in Synchrony Financial in the 4th quarter worth about $26,000. TCTC Holdings LLC bought a new stake in Synchrony Financial in the fourth quarter worth about $27,000. Y.D. More Investments Ltd lifted its stake in 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 valued at $31,000 after purchasing an additional 253 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in 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 during the period. Finally, EverSource Wealth Advisors LLC increased its position 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 buying an additional 257 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on SYF shares. JPMorgan Chase & Co. lowered their price target 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. Barclays raised Synchrony Financial from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $59.00 to $79.00 in a report on Monday, January 6th. UBS Group increased their price objective on Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Wells Fargo & Company reduced their price objective on shares of Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, StockNews.com cut shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial presently has an average rating of "Moderate Buy" and a consensus price target of $63.95.

Synchrony Financial Price Performance

NYSE SYF traded up $1.93 on Friday, reaching $54.24. 1,124,221 shares of the company's stock traded hands, compared to its average volume of 4,582,455. The stock has a market cap of $21.09 billion, a PE ratio of 6.35, a P/E/G ratio of 0.71 and a beta of 1.45. The stock has a 50-day simple moving average of $51.91 and a 200 day simple moving average of $60.22. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $70.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. As a group, research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be issued a $0.30 dividend. The ex-dividend date is Monday, May 5th. This represents a $1.20 annualized dividend and a yield of 2.21%. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's payout ratio 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.