2 days Ago By ABMN Staff
Envestnet Asset Management Inc. boosted its stake in shares of Synchrony Financial ( NYSE:SYF – Free Report ) by 15.4% during the 4th quarter, Holdings Channel reports.
The institutional investor owned 231,202 shares of the financial services provider’s stock after buying an additional 30,790 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Synchrony Financial were worth $15,028,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in SYF. Norges Bank acquired a new position in shares of Synchrony Financial in the fourth quarter worth approximately $347,903,000. Nordea Investment Management AB raised its holdings in Synchrony Financial by 18.
5% during the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after purchasing an additional 481,750 shares during the last quarter. Candriam S.
C.A. lifted its position in shares of Synchrony Financial by 231.
3% in the 4th quarter. Candriam S.C.
A. now owns 559,510 shares of the financial services provider’s stock worth $36,368,000 after purchasing an additional 390,602 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Synchrony Financial by 7.
4% in the 4th quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider’s stock valued at $358,105,000 after purchasing an additional 380,870 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.
b.a. Prosperity Capital Advisors acquired a new stake in shares of Synchrony Financial during the fourth quarter worth $24,185,000.
Institutional investors own 96.48% of the company’s stock. Analyst Ratings Changes A number of brokerages have weighed in on SYF.
Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $59.00 to $79.00 in a report on Monday, January 6th.
UBS Group lifted their target price on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th.
Royal Bank of Canada increased their price target on Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th.
StockNews.com downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $44.
00 price target (down from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock.
Based on data from MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and an average price target of $65.11.
Synchrony Financial Trading Down 1.4 % Shares of Synchrony Financial stock opened at $46.86 on Thursday.
The company has a market capitalization of $18.22 billion, a P/E ratio of 5.49, a price-to-earnings-growth ratio of 0.
71 and a beta of 1.45. The stock has a fifty day simple moving average of $54.
95 and a 200 day simple moving average of $60.28. Synchrony Financial has a 12-month low of $39.
67 and a 12-month high of $70.93. The company has a current ratio of 1.
24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01.
Synchrony Financial ( NYSE:SYF – Get Free Report ) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.
89 by $0.02. Synchrony Financial had a net margin of 15.
36% and a return on equity of 18.30%. On average, sell-side analysts anticipate that Synchrony Financial will post 7.
67 earnings per share for the current fiscal year. Synchrony Financial Dividend Announcement The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.
25 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.
00 annualized dividend and a dividend yield of 2.13%. Synchrony Financial’s dividend payout ratio is currently 11.
71%. Synchrony Financial Company Profile ( Free Report ) 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. Featured Stories Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial ( NYSE:SYF – Free Report ).
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