Point72 Asia Singapore Pte. Ltd. Invests $2.34 Million in Synchrony Financial (NYSE:SYF)

Point72 Asia Singapore Pte. Ltd. bought a new position in Synchrony Financial (NYSE:SYF - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,038 shares of the financial services provider's stock, valued at approximately $2,342,000.

Several other large investors have also recently made changes to their positions in SYF. New Wave Wealth Advisors LLC bought a new position in Synchrony Financial in the fourth quarter worth approximately $452,000. Asset Management One Co. Ltd. increased its position in shares of Synchrony Financial by 7.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider's stock valued at $11,787,000 after acquiring an additional 12,492 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Synchrony Financial in the 4th quarter valued at $57,000. Summit Trail Advisors LLC acquired a new stake in Synchrony Financial during the 4th quarter worth about $423,000. Finally, NEOS Investment Management LLC grew its position in Synchrony Financial by 31.4% during the 4th quarter. NEOS Investment Management LLC now owns 25,622 shares of the financial services provider's stock worth $1,665,000 after purchasing an additional 6,120 shares during the period. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Price Performance

Shares of NYSE:SYF traded up $0.39 on Friday, reaching $60.88. 4,101,646 shares of the company traded hands, compared to its average volume of 3,941,146. The company's 50 day moving average is $52.10 and its 200-day moving average is $60.38. 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 has a fifty-two week low of $40.55 and a fifty-two week high of $70.93. The stock has a market capitalization of $23.17 billion, a PE ratio of 7.13, a P/E/G ratio of 0.71 and a beta of 1.42.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.26. The business had revenue of $3.72 billion for 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, analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.97%. This is a boost 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 is 16.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group dropped their target price on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Bank of America boosted their price objective on Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Morgan Stanley reaffirmed 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. StockNews.com lowered Synchrony Financial from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. cut their price objective on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company 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.