New York Life Investment Management LLC Sells 1,288 Shares of Synchrony Financial (NYSE:SYF)

New York Life Investment Management LLC trimmed its position in Synchrony Financial (NYSE:SYF) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,117 shares of the financial services provider’s stock after selling 1,288 shares during the quarter. New York Life Investment Management LLC’s holdings in Synchrony Financial were worth $3,778,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYF. Private Advisor Group LLC bought a new position in shares of Synchrony Financial during the third quarter valued at about $276,000. Wealth Enhancement Advisory Services LLC increased its holdings in Synchrony Financial by 1.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock valued at $997,000 after purchasing an additional 227 shares during the period. First Trust Direct Indexing L.P. raised its position in Synchrony Financial by 16.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 17,137 shares of the financial services provider’s stock valued at $855,000 after purchasing an additional 2,387 shares during the last quarter. US Bancorp DE lifted its holdings in Synchrony Financial by 4.8% in the 3rd quarter. US Bancorp DE now owns 42,216 shares of the financial services provider’s stock worth $2,106,000 after buying an additional 1,949 shares during the period. Finally, Gladstone Institutional Advisory LLC bought a new stake in shares of Synchrony Financial in the 3rd quarter worth approximately $455,000. 96.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SYF shares. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their target price 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 boosted their price target for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. The Goldman Sachs Group increased their price target on shares of Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. 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 report on Tuesday, January 28th. Finally, Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Seven 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.30.

Synchrony Financial Stock Up 2.3 %

SYF stock opened at $60.64 on Friday. The company has a market cap of $23.57 billion, a price-to-earnings ratio of 7.10, a P/E/G ratio of 0.71 and a beta of 1.63. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The business’s 50-day moving average is $65.96 and its two-hundred day moving average is $59.67. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping 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, analysts forecast that Synchrony Financial will post 7.67 earnings per share 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 $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.65%. Synchrony Financial’s dividend payout ratio (DPR) is 11.71%.

Synchrony Financial Company 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.