Sequoia Financial Advisors LLC Increases Stake in Synchrony Financial (NYSE:SYF)

Sequoia Financial Advisors LLC lifted its stake in shares of Synchrony Financial (NYSE:SYF) by 19.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,432 shares of the financial services provider’s stock after buying an additional 1,234 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Synchrony Financial were worth $483,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its holdings in Synchrony Financial by 2.3% during the 4th quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock worth $461,000 after buying an additional 160 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its stake in Synchrony Financial by 1.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 176 shares during the last quarter. Smithfield Trust Co boosted its holdings in Synchrony Financial by 19.7% in the fourth quarter. Smithfield Trust Co now owns 1,099 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 181 shares in the last quarter. Wedmont Private Capital increased its stake in Synchrony Financial by 2.6% in the fourth quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 192 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Synchrony Financial by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,208 shares of the financial services provider’s stock worth $1,314,000 after purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of SYF opened at $53.04 on Wednesday. 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 50 day moving average is $63.07 and its two-hundred day moving average is $60.26. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93. The firm has a market capitalization of $20.62 billion, a PE ratio of 6.21, a P/E/G ratio of 0.71 and a beta of 1.67.

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

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. Synchrony Financial’s dividend payout ratio is presently 11.71%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYF. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $82.00 in a report on Thursday, December 19th. Bank of America raised their price objective on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Wells Fargo & Company raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Finally, Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research note on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.70.

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.