Tocqueville Asset Management L.P. Invests $316,000 in Synchrony Financial (NYSE:SYF)

Tocqueville Asset Management L.P. purchased a new position in shares of Synchrony Financial (NYSE:SYF) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,857 shares of the financial services provider’s stock, valued at approximately $316,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in Synchrony Financial during the fourth quarter worth approximately $452,000. National Bank of Canada FI boosted its stake in Synchrony Financial by 119.0% during the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock worth $12,123,000 after purchasing an additional 132,047 shares during the period. Asset Management One Co. Ltd. boosted its stake in Synchrony Financial by 7.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider’s stock worth $11,787,000 after purchasing an additional 12,492 shares during the period. Brophy Wealth Management LLC purchased a new position in Synchrony Financial during the 3rd quarter worth $544,000. Finally, Summit Trail Advisors LLC purchased a new position in Synchrony Financial during the 4th quarter worth $423,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Stock Performance

SYF opened at $53.85 on Friday. The company has a market cap of $20.93 billion, a PE ratio of 6.31, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The stock has a 50-day moving average of $62.61 and a 200-day moving average of $60.17. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24.

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 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 forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. Synchrony Financial’s payout ratio is presently 11.71%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYF. The Goldman Sachs Group cut their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday. Royal Bank of Canada raised their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Finally, Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.70.

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.