Senator Investment Group LP Makes New $24.70 Million Investment in Synchrony Financial (NYSE:SYF)

Senator Investment Group LP purchased a new position in Synchrony Financial (NYSE:SYF - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 380,000 shares of the financial services provider's stock, valued at approximately $24,700,000. Senator Investment Group LP owned approximately 0.10% of Synchrony Financial as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC purchased a new stake in shares of Synchrony Financial during the fourth quarter valued at $26,000. TCTC Holdings LLC purchased a new position in shares of Synchrony Financial in the 4th quarter worth $27,000. Y.D. More Investments Ltd grew its holdings 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 acquiring an additional 253 shares during the period. Raleigh Capital Management Inc. increased its position 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 acquiring an additional 486 shares during 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 valued at $53,000 after acquiring an additional 257 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SYF. Bank of America increased their price objective on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Evercore ISI decreased their target price on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a report on Wednesday. Barclays upgraded Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Compass Point cut 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, 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.95.

Synchrony Financial Stock Down 1.0 %

NYSE:SYF traded down $0.50 during midday trading on Friday, reaching $51.42. The company had a trading volume of 5,001,803 shares, compared to its average volume of 3,951,231. Synchrony Financial has a 12-month low of $40.55 and a 12-month high of $70.93. The firm has a market capitalization of $19.99 billion, a price-to-earnings ratio of 6.02, a PEG ratio of 0.71 and a beta of 1.45. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The stock's fifty day simple moving average is $52.76 and its 200-day simple moving average is $60.23.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. On average, sell-side analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal 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 dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, May 5th. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.33%. Synchrony Financial's dividend payout ratio (DPR) is currently 11.71%.

About Synchrony Financial

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.