Synchrony Financial (NYSE:SYF) Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its position in shares of Synchrony Financial (NYSE:SYF) by 7.4% in the fourth quarter, HoldingsChannel reports. The firm owned 5,509,314 shares of the financial services provider’s stock after acquiring an additional 380,870 shares during the quarter. Synchrony Financial accounts for 0.5% of Allianz Asset Management GmbH’s portfolio, making the stock its 29th biggest position. Allianz Asset Management GmbH’s holdings in Synchrony Financial were worth $358,105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYF. Bogart Wealth LLC purchased a new position in Synchrony Financial during the fourth quarter valued at approximately $26,000. Larson Financial Group LLC raised its position in Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 292 shares in the last quarter. Y.D. More Investments Ltd raised its position in Synchrony Financial by 111.5% during the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 253 shares in the last quarter. Quarry LP raised its position in Synchrony Financial by 301.3% during the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 675 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Synchrony Financial during the third quarter valued at approximately $50,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

SYF has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $59.00 to $72.00 in a research report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on Synchrony Financial from $72.50 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $59.00 to $79.00 in a research report on Monday, January 6th. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and an average price target of $69.30.

Synchrony Financial Stock Performance

NYSE SYF opened at $63.79 on Friday. The stock’s fifty day moving average is $66.69 and its two-hundred day moving average is $58.94. The firm has a market capitalization of $24.80 billion, a P/E ratio of 7.47, a price-to-earnings-growth ratio of 0.73 and a beta of 1.63. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a fifty-two week low of $39.35 and a fifty-two week high of $70.93.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data 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 return on equity of 18.30% and a net margin of 15.36%. On average, research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.71%.

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.