Alliancebernstein L.P. Decreases Stock Position in Synchrony Financial (NYSE:SYF)

Alliancebernstein L.P. decreased its holdings in shares of Synchrony Financial (NYSE:SYF) by 4.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 636,561 shares of the financial services provider’s stock after selling 31,202 shares during the period. Alliancebernstein L.P.’s holdings in Synchrony Financial were worth $41,376,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SYF. Bogart Wealth LLC acquired a new stake in Synchrony Financial in the 4th quarter worth approximately $26,000. TCTC Holdings LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter worth $27,000. Y.D. More Investments Ltd lifted its stake in shares of 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 worth $31,000 after buying an additional 253 shares during the period. Raleigh Capital Management Inc. increased its position in shares of Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 486 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Synchrony Financial by 46.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 257 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Down 6.0 %

Shares of SYF stock opened at $43.76 on Friday. Synchrony Financial has a 1-year low of $39.67 and a 1-year high of $70.93. The company has a market cap of $17.01 billion, a price-to-earnings ratio of 5.12, a PEG ratio of 0.71 and a beta of 1.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $59.21 and a 200-day simple moving average of $60.62.

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 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, equities research analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s dividend payout ratio is presently 11.71%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research report on Tuesday, January 28th. Truist Financial dropped their target price on Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. The Goldman Sachs Group cut their price target on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $59.00 to $72.00 in a research note on Monday, December 9th. Finally, StockNews.com downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.26.

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.