iA Global Asset Management Inc. Has $2.79 Million Holdings in Synchrony Financial (NYSE:SYF)

iA Global Asset Management Inc. lessened its position in Synchrony Financial (NYSE:SYF) by 19.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 42,859 shares of the financial services provider’s stock after selling 10,481 shares during the period. iA Global Asset Management Inc.’s holdings in Synchrony Financial were worth $2,786,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its stake in Synchrony Financial by 7.4% in the fourth quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider’s stock valued at $358,105,000 after acquiring an additional 380,870 shares during the period. Southpoint Capital Advisors LP grew its stake in 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. grew its stake in Synchrony Financial by 3.7% in the third 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 acquiring an additional 157,948 shares during the period. Nordea Investment Management AB grew its stake 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 acquiring an additional 481,750 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in Synchrony Financial by 16.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,943,817 shares of the financial services provider’s stock valued at $126,348,000 after acquiring an additional 279,517 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SYF shares. Truist Financial upped their price target on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada upped their price target on Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Bank of America upped their price target on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $85.00 in a report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Six 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. Based on data from MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and an average target price of $68.70.

Synchrony Financial Stock Down 1.2 %

SYF stock opened at $53.85 on Friday. 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 company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 0.71 and a beta of 1.67. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93. The stock has a fifty day moving average of $62.61 and a 200-day moving average of $60.17.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results 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 return on equity of 18.30% and a net margin of 15.36%. As a group, equities research analysts predict 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. 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 1.86%. 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.