Quadrant Capital Group LLC Increases Stock Holdings in Synchrony Financial (NYSE:SYF)

Quadrant Capital Group LLC increased its holdings in Synchrony Financial (NYSE:SYFGet Rating) by 23.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,461 shares of the financial services provider’s stock after purchasing an additional 856 shares during the period. Quadrant Capital Group LLC’s holdings in Synchrony Financial were worth $156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYF. Norges Bank purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at $243,432,000. Marshall Wace LLP grew its position in shares of Synchrony Financial by 8,460.7% in the fourth quarter. Marshall Wace LLP now owns 3,147,770 shares of the financial services provider’s stock valued at $146,028,000 after purchasing an additional 3,111,000 shares during the period. Ceredex Value Advisors LLC grew its position in shares of Synchrony Financial by 189.0% in the fourth quarter. Ceredex Value Advisors LLC now owns 4,487,006 shares of the financial services provider’s stock valued at $208,152,000 after purchasing an additional 2,934,606 shares during the period. BlackRock Inc. grew its position in Synchrony Financial by 4.3% during the fourth quarter. BlackRock Inc. now owns 46,743,789 shares of the financial services provider’s stock valued at $2,168,444,000 after acquiring an additional 1,945,620 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Synchrony Financial by 58.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 3,674,380 shares of the financial services provider’s stock valued at $170,454,000 after acquiring an additional 1,349,252 shares during the period. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Analyst Upgrades and Downgrades

SYF has been the subject of a number of research reports. Credit Suisse Group boosted their price target on Synchrony Financial from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, July 19th. The Goldman Sachs Group boosted their price target on Synchrony Financial from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, April 19th. Piper Sandler set a $41.00 price target on Synchrony Financial in a research report on Tuesday, July 19th. Keefe, Bruyette & Woods lowered their price target on Synchrony Financial from $59.00 to $46.00 in a research report on Monday, July 11th. Finally, Wolfe Research cut Synchrony Financial from a “peer perform” rating to an “underperform” rating and set a $22.00 price objective on the stock. in a research note on Thursday, May 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and an average price target of $45.76.

Synchrony Financial Trading Up 0.4 %

NYSE:SYF opened at $33.90 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.21 and a current ratio of 1.21. Synchrony Financial has a one year low of $27.22 and a one year high of $52.49. The business’s 50-day simple moving average is $31.64 and its 200 day simple moving average is $36.26. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 4.95, a price-to-earnings-growth ratio of 0.26 and a beta of 1.57.

Synchrony Financial (NYSE:SYFGet Rating) last announced its quarterly earnings data on Monday, July 18th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.13. Synchrony Financial had a return on equity of 27.06% and a net margin of 22.76%. During the same quarter in the previous year, the company earned $2.12 EPS. As a group, sell-side analysts predict that Synchrony Financial will post 5.63 earnings per share for the current fiscal year.

Synchrony Financial announced that its Board of Directors has initiated a stock buyback plan on Monday, April 18th that permits the company to buyback $2.80 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 13.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 1st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $0.92 annualized dividend and a yield of 2.71%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.22. Synchrony Financial’s dividend payout ratio is presently 13.43%.

Synchrony Financial Profile

(Get Rating)

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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