BI Asset Management Fondsmaeglerselskab A S Buys 6,570 Shares of Synchrony Financial (NYSE:SYF)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Synchrony Financial (NYSE:SYF - Free Report) by 23.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,787 shares of the financial services provider's stock after acquiring an additional 6,570 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Synchrony Financial were worth $2,261,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYF. Alpha DNA Investment Management LLC raised its holdings in shares of Synchrony Financial by 9.0% in the 4th quarter. Alpha DNA Investment Management LLC now owns 17,318 shares of the financial services provider's stock valued at $1,126,000 after purchasing an additional 1,427 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Synchrony Financial by 10.3% in the fourth quarter. NewEdge Advisors LLC now owns 7,623 shares of the financial services provider's stock valued at $496,000 after acquiring an additional 711 shares in the last quarter. Bridgewater Associates LP boosted its holdings in shares of Synchrony Financial by 258.0% in the fourth quarter. Bridgewater Associates LP now owns 586,678 shares of the financial services provider's stock valued at $38,134,000 after acquiring an additional 422,800 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Synchrony Financial during the 4th quarter worth approximately $35,986,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Synchrony Financial in the 4th quarter valued at approximately $658,000. Hedge funds and other institutional investors own 96.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SYF shares. The Goldman Sachs Group dropped their price target on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Evercore ISI reduced 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. Morgan Stanley reiterated an "equal weight" rating and issued a $44.00 target price (down previously from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. JPMorgan Chase & Co. reduced their price objective on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Cfra Research upgraded Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Nine equities research 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.95.

Synchrony Financial Stock Down 1.0 %

Shares of NYSE SYF traded down $0.50 during midday trading on Friday, hitting $51.42. 5,001,803 shares of the stock traded hands, compared to its average volume of 3,952,245. The company has a market cap of $19.99 billion, a PE ratio of 6.02, a P/E/G ratio of 0.71 and a beta of 1.45. Synchrony Financial has a one year low of $40.55 and a one year high of $70.93. The business has a 50 day moving average price of $52.76 and a two-hundred day moving average price of $60.35. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24.

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

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, May 5th. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.33%. Synchrony Financial's payout ratio is presently 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.