Picton Mahoney Asset Management Takes $78,000 Position in Synchrony Financial (NYSE:SYF)

Picton Mahoney Asset Management bought a new stake in shares of Synchrony Financial (NYSE:SYF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,200 shares of the financial services provider’s stock, valued at approximately $78,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SYF. Bogart Wealth LLC acquired a new stake in Synchrony Financial in the 4th quarter valued at about $26,000. Larson Financial Group LLC raised its holdings in Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after buying an additional 292 shares during the period. Y.D. More Investments Ltd boosted 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 period. Quarry LP boosted its holdings in Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 675 shares during the period. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 486 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

SYF stock opened at $53.42 on Monday. The stock has a 50-day moving average price of $63.63 and a two-hundred day moving average price of $60.21. The company has a market cap of $20.77 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. 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 has a 12-month low of $39.67 and a 12-month high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, research analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s payout ratio is currently 11.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SYF shares. The Goldman Sachs Group upped their target price on shares of Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Truist Financial increased their price objective on Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a research note on Tuesday, January 28th. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. Finally, Royal Bank of Canada upped their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.30.

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.