3,683 Shares in Synchrony Financial (NYSE:SYF) Bought by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC bought a new stake in Synchrony Financial (NYSE:SYF) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 3,683 shares of the financial services provider’s stock, valued at approximately $239,000.

Other institutional investors have also recently bought and sold shares of the company. Southpoint Capital Advisors LP boosted its position in shares of Synchrony Financial by 37.9% in the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock valued at $229,448,000 after acquiring an additional 1,265,000 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Synchrony Financial by 3.7% during 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 holdings in Synchrony Financial by 18.5% in the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock valued at $200,756,000 after purchasing an additional 481,750 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Synchrony Financial by 1.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,199,554 shares of the financial services provider’s stock valued at $109,714,000 after purchasing an additional 37,484 shares during the period. Finally, Victory Capital Management Inc. grew its position in Synchrony Financial by 8.4% in the 3rd quarter. Victory Capital Management Inc. now owns 2,061,979 shares of the financial services provider’s stock worth $102,852,000 after purchasing an additional 158,960 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYF. TD Cowen increased their target price on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Truist Financial raised their price objective on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. The Goldman Sachs Group lifted their price objective on Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Seven 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. Based on data from MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $69.30.

Insider Activity

In related news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares in the company, valued at $8,291,879.13. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is owned by insiders.

Synchrony Financial Trading Down 3.0 %

SYF stock opened at $65.45 on Tuesday. The business has a fifty day moving average price of $67.17 and a 200 day moving average price of $58.11. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.25. Synchrony Financial has a fifty-two week low of $38.25 and a fifty-two week high of $70.93. The stock has a market capitalization of $25.48 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 0.72 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating 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%. Analysts expect that Synchrony Financial will post 7.45 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. 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.