Synchrony Financial (NYSE:SYF) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance grew its holdings in shares of Synchrony Financial (NYSE:SYF) by 12.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,410 shares of the financial services provider’s stock after purchasing an additional 1,633 shares during the period. Independent Advisor Alliance’s holdings in Synchrony Financial were worth $937,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SYF. Janney Montgomery Scott LLC raised its holdings in shares of Synchrony Financial by 396.1% during the third quarter. Janney Montgomery Scott LLC now owns 22,759 shares of the financial services provider’s stock worth $1,135,000 after purchasing an additional 18,171 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of Synchrony Financial by 5.1% during the third quarter. Apollon Wealth Management LLC now owns 6,934 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 337 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of Synchrony Financial by 17.7% during the third quarter. OneDigital Investment Advisors LLC now owns 5,431 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 817 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Synchrony Financial by 5.4% during the third quarter. CIBC Asset Management Inc now owns 67,772 shares of the financial services provider’s stock worth $3,380,000 after purchasing an additional 3,501 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Synchrony Financial by 51.9% during the third quarter. Empowered Funds LLC now owns 158,921 shares of the financial services provider’s stock worth $7,927,000 after purchasing an additional 54,292 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

NYSE:SYF opened at $53.42 on Friday. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $63.63 and a 200-day moving average of $60.14. The firm has a market cap of $20.77 billion, a price-to-earnings ratio of 6.25, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67.

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, beating 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%. Analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Synchrony Financial’s dividend payout ratio (DPR) is 11.71%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SYF. The Goldman Sachs Group increased their target price on shares of Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $79.00 in a report on Monday, January 6th. UBS Group increased their price objective on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods increased their price objective on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Truist Financial increased their price objective on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.30.

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.