Nemes Rush Group LLC Sells 268 Shares of Synchrony Financial (NYSE:SYF)

Nemes Rush Group LLC decreased its position in shares of Synchrony Financial (NYSE:SYF) by 5.4% in the 4th quarter, Holdings Channel reports. The firm owned 4,650 shares of the financial services provider’s stock after selling 268 shares during the quarter. Nemes Rush Group LLC’s holdings in Synchrony Financial were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its stake in Synchrony Financial by 1.5% during the fourth quarter. Franklin Resources Inc. now owns 1,094,518 shares of the financial services provider’s stock worth $71,144,000 after buying an additional 15,922 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its holdings in Synchrony Financial by 1.2% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 54,560 shares of the financial services provider’s stock worth $3,546,000 after acquiring an additional 621 shares during the period. C M Bidwell & Associates Ltd. bought a new position in shares of Synchrony Financial in the 4th quarter worth about $330,000. Meeder Asset Management Inc. lifted its stake in shares of Synchrony Financial by 68.6% in the 4th quarter. Meeder Asset Management Inc. now owns 89,936 shares of the financial services provider’s stock valued at $5,846,000 after purchasing an additional 36,588 shares during the period. Finally, AIA Group Ltd bought a new stake in shares of Synchrony Financial during the 4th quarter valued at about $860,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Trading Up 0.5 %

NYSE SYF opened at $53.22 on Wednesday. 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 firm has a market capitalization of $20.69 billion, a P/E ratio of 6.23, a PEG ratio of 0.71 and a beta of 1.67. The business has a fifty day simple moving average of $60.53 and a 200 day simple moving average of $60.71. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio is presently 11.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SYF shares. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. The Goldman Sachs Group lowered their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Truist Financial cut their target price on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Compass Point cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a report on Tuesday, January 28th. Finally, Royal Bank of Canada upped their price objective on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.10.

Synchrony Financial Company 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.