6,159 Shares in Synchrony Financial (NYSE:SYF) Bought by Quantessence Capital LLC

Quantessence Capital LLC purchased a new stake in Synchrony Financial (NYSE:SYF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,159 shares of the financial services provider's stock, valued at approximately $400,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYF. Bogart Wealth LLC acquired a new position in shares of Synchrony Financial during the 4th quarter worth approximately $26,000. TCTC Holdings LLC purchased a new stake in shares of Synchrony Financial during the fourth quarter worth about $27,000. Y.D. More Investments Ltd raised its position in shares of Synchrony Financial by 111.5% during the 4th 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 during the last quarter. Raleigh Capital Management Inc. boosted its holdings in Synchrony Financial by 151.4% in the 4th 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 during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Synchrony Financial by 46.5% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 96.48% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYF. Truist Financial decreased their price target on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a research note on Friday. Morgan Stanley reiterated 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. Evercore ISI cut their target price on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Compass Point cut shares of Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price target on the stock. in a research report on Tuesday, January 28th. Finally, Bank of America upped their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial presently has an average rating of "Moderate Buy" and an average price target of $63.95.

Synchrony Financial Stock Up 0.7 %

Shares of NYSE:SYF traded up $0.34 on Monday, reaching $51.76. The company had a trading volume of 1,246,800 shares, compared to its average volume of 3,942,047. Synchrony Financial has a twelve month low of $40.55 and a twelve month 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. The stock has a 50-day moving average price of $52.76 and a 200 day moving average price of $60.35. The stock has a market capitalization of $20.12 billion, a P/E ratio of 6.06, a P/E/G ratio of 0.71 and a beta of 1.45.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.63 by $0.26. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. On average, equities analysts expect 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. Stockholders of record on Monday, May 5th will be issued a dividend of $0.30 per share. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date is Monday, May 5th. This represents a $1.20 annualized dividend and a dividend yield of 2.32%. Synchrony Financial's payout ratio is presently 16.46%.

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.