Mackenzie Financial Corp Has $27.33 Million Holdings in Synchrony Financial (NYSE:SYF)

Mackenzie Financial Corp grew its stake in Synchrony Financial (NYSE:SYF) by 14.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 715,734 shares of the financial services provider’s stock after buying an additional 88,026 shares during the quarter. Mackenzie Financial Corp’s holdings in Synchrony Financial were worth $27,334,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System acquired a new position in shares of Synchrony Financial in the fourth quarter valued at approximately $955,000. Simplicity Solutions LLC boosted its holdings in Synchrony Financial by 67.6% during the fourth quarter. Simplicity Solutions LLC now owns 13,468 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 5,432 shares during the last quarter. Cerity Partners LLC boosted its holdings in Synchrony Financial by 149.8% during the fourth quarter. Cerity Partners LLC now owns 21,342 shares of the financial services provider’s stock worth $815,000 after purchasing an additional 12,798 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in Synchrony Financial by 6.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 90,078 shares of the financial services provider’s stock worth $3,440,000 after purchasing an additional 5,348 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Synchrony Financial during the fourth quarter worth $1,962,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SYF. Wells Fargo & Company increased their target price on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. StockNews.com cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays increased their target price on shares of Synchrony Financial from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price target on shares of Synchrony Financial from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Finally, Piper Sandler upped their price target on shares of Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.44.

Insider Activity

In other news, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now directly owns 14,183 shares in the company, valued at approximately $552,995.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Brian D. Doubles sold 134,696 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now directly owns 660,353 shares in the company, valued at approximately $27,246,164.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the transaction, the insider now owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,158 shares of company stock worth $6,106,106. Corporate insiders own 0.65% of the company’s stock.

Synchrony Financial Trading Down 0.6 %

Shares of Synchrony Financial stock opened at $39.68 on Thursday. The company has a market capitalization of $16.14 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 0.99 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. Synchrony Financial has a 12-month low of $26.59 and a 12-month high of $43.83. The firm’s 50-day moving average price is $41.12 and its two-hundred day moving average price is $36.24.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $4.45 billion. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. During the same period in the prior year, the company posted $1.26 earnings per share. On average, analysts forecast that Synchrony Financial will post 5.54 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a $0.25 dividend. The ex-dividend date was Friday, February 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.52%. Synchrony Financial’s payout ratio is currently 19.31%.

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.