Parallel Advisors LLC Grows Stock Holdings in Synchrony Financial (NYSE:SYF)

Parallel Advisors LLC grew its stake in shares of Synchrony Financial (NYSE:SYF) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 25,753 shares of the financial services provider’s stock after buying an additional 528 shares during the period. Parallel Advisors LLC’s holdings in Synchrony Financial were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in SYF. Bogart Wealth LLC purchased a new stake in Synchrony Financial during the 4th quarter worth about $26,000. Larson Financial Group LLC increased its position in shares of Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after buying an additional 292 shares during the period. Y.D. More Investments Ltd lifted its holdings 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 buying an additional 253 shares in the last quarter. Quarry LP boosted its position 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 valued at $45,000 after acquiring an additional 675 shares during the period. Finally, Raleigh Capital Management Inc. grew its stake in Synchrony Financial by 151.4% during the fourth 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 in the last quarter. 96.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on SYF. Compass Point downgraded 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. Bank of America lifted their price objective on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and raised their price target for the company from $59.00 to $72.00 in a report on Monday, December 9th. Finally, Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Six investment 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 stock. Based on data from MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus price target of $68.70.

Synchrony Financial Stock Down 0.8 %

SYF opened at $53.04 on Wednesday. Synchrony Financial has a 12 month low of $39.67 and a 12 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 business’s 50-day moving average price is $63.07 and its 200-day moving average price is $60.26. The company has a market cap of $20.62 billion, a P/E ratio of 6.21, a P/E/G ratio of 0.71 and a beta of 1.67.

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

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. Synchrony Financial’s dividend payout ratio is currently 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.