AIA Group Ltd Buys Shares of 13,237 Synchrony Financial (NYSE:SYF)

AIA Group Ltd purchased a new position in shares of Synchrony Financial (NYSE:SYF) in the fourth quarter, Holdings Channel.com reports. The fund purchased 13,237 shares of the financial services provider’s stock, valued at approximately $860,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH raised its stake in Synchrony Financial by 7.4% during the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider’s stock worth $358,105,000 after acquiring an additional 380,870 shares in the last quarter. Norges Bank acquired a new position in Synchrony Financial during the 4th quarter worth approximately $347,903,000. Jacobs Levy Equity Management Inc. lifted its stake in Synchrony Financial by 3.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider’s stock valued at $221,830,000 after purchasing an additional 157,948 shares during the last quarter. Nordea Investment Management AB boosted its position in Synchrony Financial by 18.5% in the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock valued at $200,756,000 after buying an additional 481,750 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Synchrony Financial by 16.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,943,817 shares of the financial services provider’s stock worth $126,348,000 after buying an additional 279,517 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SYF has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price target on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Truist Financial cut their price target on Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. The Goldman Sachs Group lowered their price objective on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. UBS Group lifted their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, 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 research report on Tuesday, January 28th. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.10.

Synchrony Financial Stock Up 0.9 %

Shares of NYSE:SYF opened at $52.92 on Tuesday. The business’s 50-day moving average is $60.86 and its 200-day moving average is $60.66. Synchrony Financial has a 1 year low of $39.67 and a 1 year high of $70.93. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of 6.20, 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 (NYSE:SYF) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (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%. Equities research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

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