Tower Research Capital LLC TRC Purchases 23,669 Shares of Synchrony Financial (NYSE:SYF)

Tower Research Capital LLC TRC boosted its position in Synchrony Financial (NYSE:SYF) by 132.5% during the fourth quarter, HoldingsChannel reports. The fund owned 41,529 shares of the financial services provider’s stock after buying an additional 23,669 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Synchrony Financial were worth $2,699,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of Synchrony Financial by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider’s stock valued at $650,678,000 after buying an additional 205,641 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Synchrony Financial by 7.4% during 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 period. Norges Bank purchased a new stake in Synchrony Financial during the 4th quarter worth about $347,903,000. Nordea Investment Management AB boosted its stake in Synchrony Financial by 18.5% in 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 period. Finally, Los Angeles Capital Management LLC grew its holdings in Synchrony Financial by 16.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,943,817 shares of the financial services provider’s stock valued at $126,348,000 after buying an additional 279,517 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SYF shares. JPMorgan Chase & Co. lowered their price target on shares of Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Bank of America increased their target price 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. Royal Bank of Canada boosted their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Truist Financial lowered their price objective on Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Finally, The Goldman Sachs Group dropped their price objective on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.11.

Synchrony Financial Stock Down 1.1 %

Shares of Synchrony Financial stock opened at $47.33 on Tuesday. The company’s 50 day moving average price is $53.92 and its 200-day moving average price is $60.38. Synchrony Financial has a 52-week low of $40.55 and a 52-week high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $18.40 billion, a price-to-earnings ratio of 5.54, a P/E/G ratio of 0.71 and a beta of 1.45.

Synchrony Financial (NYSE:SYF) last posted its 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%. Equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

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.