Fortis Group Advisors LLC Makes New Investment in Synchrony Financial (NYSE:SYF)

Fortis Group Advisors LLC acquired a new position in shares of Synchrony Financial (NYSE:SYF) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 3,756 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other hedge funds also recently made changes to their positions in the company. Southpoint Capital Advisors LP boosted its stake in shares of Synchrony Financial by 37.9% during the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock worth $229,448,000 after buying an additional 1,265,000 shares during the period. Zurich Insurance Group Ltd FI boosted its stake in shares of Synchrony Financial by 389.8% during the third quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock worth $56,797,000 after buying an additional 906,172 shares during the period. Soros Fund Management LLC acquired a new stake in shares of Synchrony Financial during the third quarter worth about $41,088,000. Assenagon Asset Management S.A. boosted its stake in shares of Synchrony Financial by 589.3% during the third quarter. Assenagon Asset Management S.A. now owns 644,203 shares of the financial services provider’s stock worth $32,133,000 after buying an additional 550,750 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Synchrony Financial by 18.5% during the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after buying an additional 481,750 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SYF shares. Compass Point downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods raised their price objective on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $59.00 to $72.00 in a research report on Monday, December 9th. Truist Financial raised their price objective on shares of Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $59.00 to $79.00 in a research report on Monday, January 6th. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.30.

Synchrony Financial Stock Down 0.0 %

SYF stock opened at $65.20 on Wednesday. Synchrony Financial has a one year low of $39.26 and a one year high of $70.93. The company has a 50 day moving average price of $66.88 and a two-hundred day moving average price of $58.72. The stock has a market capitalization of $25.39 billion, a P/E ratio of 7.64, a PEG ratio of 0.72 and a beta of 1.63. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.25 and a current ratio of 1.24.

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, 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, sell-side analysts expect that Synchrony Financial will post 7.45 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. Synchrony Financial’s dividend payout ratio is presently 11.71%.

About Synchrony Financial

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.