Synchrony Financial (NYSE:SYF) Stake Reduced by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its holdings in Synchrony Financial (NYSE:SYF) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,151 shares of the financial services provider’s stock after selling 725 shares during the quarter. Hartford Investment Management Co.’s holdings in Synchrony Financial were worth $1,570,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 292 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 253 shares in the last quarter. Quarry LP grew its stake in shares of Synchrony Financial by 301.3% in the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 675 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Synchrony Financial in the third quarter worth $50,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 486 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SYF shares. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and raised their target price for the company from $59.00 to $72.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods raised their target price on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Jefferies Financial Group raised their target price on Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Truist Financial raised their target price on Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and an average price target of $69.30.

Synchrony Financial Trading Up 0.1 %

Shares of NYSE SYF opened at $64.06 on Friday. The business has a fifty day simple moving average of $67.04 and a 200-day simple moving average of $58.35. The company has a market cap of $24.94 billion, a price-to-earnings ratio of 7.50, a P/E/G ratio of 0.72 and a beta of 1.63. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a 12 month low of $38.78 and a 12 month high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Sell-side analysts predict that Synchrony Financial will post 7.45 EPS for the current year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s dividend payout ratio is currently 11.71%.

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.