NewEdge Advisors LLC Raises Holdings in Synchrony Financial (NYSE:SYF)

NewEdge Advisors LLC lifted its holdings in shares of Synchrony Financial (NYSE:SYF) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,623 shares of the financial services provider’s stock after purchasing an additional 711 shares during the period. NewEdge Advisors LLC’s holdings in Synchrony Financial were worth $496,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Synchrony Financial in the 4th quarter valued at approximately $347,903,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Synchrony Financial in the 4th quarter valued at approximately $35,986,000. Nordea Investment Management AB increased 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 valued at $200,756,000 after purchasing an additional 481,750 shares in the last quarter. Bridgewater Associates LP increased its stake in Synchrony Financial by 258.0% in the 4th quarter. Bridgewater Associates LP now owns 586,678 shares of the financial services provider’s stock valued at $38,134,000 after purchasing an additional 422,800 shares in the last quarter. Finally, Candriam S.C.A. increased its stake in 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 valued at $36,368,000 after purchasing an additional 390,602 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Trading Up 1.5 %

NYSE SYF opened at $52.21 on Tuesday. The company has a 50-day moving average of $52.49 and a 200-day moving average of $60.34. The company has a market cap of $20.30 billion, a P/E ratio of 6.11, a P/E/G ratio of 0.71 and a beta of 1.45. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, equities analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Monday, May 5th. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.25. Synchrony Financial’s dividend payout ratio is 16.46%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 price objective (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Truist Financial reduced their price objective on Synchrony Financial from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday. UBS Group lifted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, Compass Point downgraded shares of 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. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.95.

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.