Corebridge Financial Inc. Buys 543 Shares of Synchrony Financial (NYSE:SYF)

Corebridge Financial Inc. increased its position in Synchrony Financial (NYSE:SYF) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,670 shares of the financial services provider’s stock after buying an additional 543 shares during the period. Corebridge Financial Inc.’s holdings in Synchrony Financial were worth $6,414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Southpoint Capital Advisors LP grew its stake in Synchrony Financial by 37.9% in the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock valued at $229,448,000 after acquiring an additional 1,265,000 shares during the period. Zurich Insurance Group Ltd FI grew its position in Synchrony Financial by 389.8% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock valued at $56,797,000 after purchasing an additional 906,172 shares during the period. Soros Fund Management LLC bought a new stake in Synchrony Financial during the 3rd quarter valued at $41,088,000. Nordea Investment Management AB raised its holdings in Synchrony Financial by 18.5% during the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after buying an additional 481,750 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Synchrony Financial by 71.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,130,266 shares of the financial services provider’s stock valued at $56,378,000 after buying an additional 469,772 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $52.39 on Friday. The stock’s 50-day simple moving average is $61.17 and its two-hundred day simple moving average is $60.41. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93. The firm has a market capitalization of $20.37 billion, a P/E ratio of 6.13, a P/E/G ratio of 0.71 and a beta of 1.67. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.91%. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

Analyst Ratings Changes

Several research firms have recently commented on SYF. 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 report on Tuesday, January 28th. The Goldman Sachs Group decreased their price objective on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and raised their target price for the company from $40.00 to $82.00 in a report on Thursday, December 19th. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Bank of America raised their price objective on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.10.

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.