Vestcor Inc Has $428,000 Stake in Synchrony Financial (NYSE:SYF)

Vestcor Inc reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 24.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,581 shares of the financial services provider’s stock after selling 2,109 shares during the quarter. Vestcor Inc’s holdings in Synchrony Financial were worth $428,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Great Lakes Advisors LLC grew its holdings in Synchrony Financial by 0.6% during the fourth quarter. Great Lakes Advisors LLC now owns 40,139 shares of the financial services provider’s stock valued at $2,609,000 after purchasing an additional 240 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Synchrony Financial by 674.8% in the 4th quarter. Farther Finance Advisors LLC now owns 13,551 shares of the financial services provider’s stock valued at $881,000 after buying an additional 11,802 shares during the period. 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 buying an additional 257 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Synchrony Financial by 19.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,432 shares of the financial services provider’s stock worth $483,000 after buying an additional 1,234 shares during the period. Finally, Citizens Financial Group Inc. RI raised its stake in Synchrony Financial by 6.5% during the 4th quarter. Citizens Financial Group Inc. RI now owns 4,624 shares of the financial services provider’s stock worth $301,000 after buying an additional 282 shares during the period. 96.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Truist Financial increased their price target on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Wells Fargo & Company upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Finally, Bank of America upped their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.30.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $53.48 on Tuesday. The company has a fifty day moving average price of $63.35 and a two-hundred day moving average price of $60.24. The stock has a market cap of $20.79 billion, a P/E ratio of 6.26, a P/E/G 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. Synchrony Financial has a one year low of $39.67 and a one year high of $70.93.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 EPS 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%. As a group, equities analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

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

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.